Even AFTER the 5 MILLION Reported by Eric Sprott__There Are STILL a LOT MORE Warrants OUT__ALL IN THE MONEY by a FULL 10 Cents__THUS Could Keep On FEEDING the TREASURY For a Considerable Time 

Down SIDE of course IS that They WOULD BE Highly DILUTIVE @ 20 Cents VS Recent Market Prices eh !!!!!!!!


TORONTO, Jan. 08, 2020 (GLOBE NEWSWIRE) -- Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) has closed, on an oversubscribed basis, its previously announced non-brokered private placement financing (the “Offering”).  The Company issued 30,000,000 units (the “Units”) at a price of $0.12 per Unit for gross proceeds of $3,600,000.  Each Unit is comprised of one common share of Trigon (a “Share”) and one common share purchase warrant (a “Warrant”).  Each Warrant entitles the holder thereof to acquire one Share at a price of $0.20 for a period of 36 months following the closing date of the Offering.  The Offering was oversubscribed by $600,000.
 
The Company intends to use the net proceeds from the Offering for reviewing potential strategic acquisition opportunities and for working capital and general corporate purposes.
 
Eric Sprott, through 2176423 Ontario Ltd., a corporation that is beneficially owned by him, acquired 16,666,666 Units under the Private Placement for a total consideration of $2,000,000. Prior to the Private Placement, Mr. Sprott owned 1,333,333 Shares. As a result of the Private Placement, Mr. Sprott beneficially owns or controls 17,999,999 Shares and 16,666,666 Warrants representing 19.99% of the issued and outstanding common shares of the Company on a non-diluted basis and 32.36% on a partially diluted basis.