TMC:CC - Trench Metals Announces Private Placement
(TheNewswire)
Vancouver, Canada– TheNewswire - July 10, 2023 – Trench Metals Corp . (the“ Company ”) (TSXV: TMC , FWB: 33H2 ) is pleased toannounce it will conduct a non-brokered private placement (the“ Offering ”) of up to 10,000,000 units of the Company (each, a“ Unit ”) at a price of $0.25 per Unit to raise gross proceeds ofup to $2,500,000. Each Unit will consist of one common share of theCompany and one common share purchase warrant (each, a “ Warrant ”). EachWarrant will entitle the holder to purchase one common share of theCompany at a price of $0.30 at any time on or before the date which istwelve months after closing of the Offering.
The net proceeds raised from the Offering will be usedto advance exploration work at the Higginson Lake Uranium Project,located in Northern Saskatchewan, and for general working capitalpurposes.
The Company may pay finders’ fees to eligible partieswho have assisted in introducing subscribers to the Offering. Allsecurities issued in connection with the Offering will be subject torestriction on resale for a period of four-months-and-one-day inaccordance with applicable securities laws. Closing of the Offeringremains subject to the approval of the TSX Venture Exchange.
Incentive Option Grant
The Company also announces that it has granted1,500,000 incentive stock options (the “ Options ”) to thedirectors and officers of the Company. The Options vest immediatelyand are exercisable at a price of $0.30 until July 10, 2024.
About Trench Metals Corp
Trench Metals Corp . is a mineral exploration company with a focus on uranium.We create value for our shareholders by engaging in promising mineralexploration opportunities. Our main goal is the advancement of variousprojects from discovery all the way to production. This verticallyintegrated strategy allows Trench Metals to achieve exceptionalshareholder value through the entire life-cycle of the miningprocess.
For further information, contact the Company at info@trenchmetals.com or 604.558.4300, or visit the Company’s website at www.trenchmetals.com .
On behalf of the Board,
Trench Metals Corp.
Simon Cheng, President
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
This news release may containcertain “Forward-Looking Statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 andapplicable Canadian securities laws. When or if used in this newsrelease, the words “anticipate”, “believe”, “estimate”,“expect”, “target, “plan”, “forecast”, “may”,“schedule” and similar words or expressions identifyforward-looking statements or information. These forward-lookingstatements or information may relate to the development of theHigginson Lake Uranium Project, the expected use of proceeds from theOffering and other factors or information. Such statements representthe Company’s current views with respect to future events and arenecessarily based upon a number of assumptions and estimates that,while considered reasonable by the Company, are inherently subject tosignificant business, economic, competitive, political and socialrisks, contingencies and uncertainties. Many factors, both known andunknown, could cause results, performance, or achievements to bematerially different from the results, performance or achievementsthat are or may be expressed or implied by such forward-lookingstatements. The Company does not intend, and does not assume anyobligation, to update these forward-looking statements or informationto reflect changes in assumptions or changes in circumstances or anyother events affecting such statements and information other than asrequired by applicable laws, rules and regulations.
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