(TheNewswire)
Aurora, Ontario - TheNewswire - October 2, 2020 - Tri Origin Exploration Ltd. (TSXV:TOE) ( the" Company ") announces that it has decided not to proceed with apreviously announced (see August 24 andSeptember 9, 2020 news releases of the Company)non-brokered private placement at this time (the " Financing "). Thecompletion of the Financing is being deferred until further notice dueto weakness in gold markets over the past number of weeks. The softening of the gold market through theperiod following the announcement of the Financing was reflected inthe Company's share market. This resulted in a differential in marketpricing versus pricing of the securities offered in the placement andconsequent difficulty in taking the placement to completion.
Subscription agreements in respect of the Financingreceived to date will be held until recommencement of the placement orreturned at the request of the subscriber. The overall trend of thegold market is important to the Company's investors and once themarket direction becomes clear the Company will announce a resumptionof the Financing.
About Tri Origin
Tri Origin Exploration Ltd. is publicly listed on theTSX Venture Exchange under the trading symbol TOE. Tri Origin is aleading Canadian exploration company with gold and base metal projectsin Canada.
For more information about TriOrigin, please visit www.triorigin.com or SEDAR www.sedar.com orcontact:
Dr. Robert Valliant, President
Tri Origin Exploration Ltd.
Tel: (905) 727-1779
or;
Steve Dawson
(647) 998-9495
E-mail: invest@triorigin.com
Forward Looking Statements:
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release. This News Release includes certain"forward-looking statements" which are not comprised ofhistorical facts. Forward-looking statements include estimates andstatements that describe the Company's future plans, objectives orgoals, including words to the effect that the Company or managementexpects a stated condition or result to occur. Forward-lookingstatements may be identified by such terms as "believes","anticipates", "expects", "estimates","may", "could", "would","will", or "plan". Since forward-lookingstatements are based on assumptions and address future events andconditions, by their very nature they involve inherent risks anduncertainties. Although these statements are based on informationcurrently available to the Company, the Company provides no assurancethat actual results will meet management's expectations. Risks,uncertainties and other factors involved with forward-lookinginformation could cause actual events, results, performance, prospectsand opportunities to differ materially from those expressed or impliedby such forward-looking information. Forward looking information inthis news release includes, but is not limited to, the Company'sobjectives, goals or future plans, statements, exploration results,potential mineralization, the estimation of mineral resources,exploration and mine development plans, timing of the commencement ofoperations and estimates of market conditions. Factors that couldcause actual results to differ materially from such forward-lookinginformation include, but are not limited to failure to identifymineral resources, failure to convert estimated mineral resources toreserves, the inability to complete a feasibility study whichrecommends a production decision, the preliminary nature ofmetallurgical test results, delays in obtaining or failures to obtainrequired governmental, environmental or other project approvals,political risks, inability to fulfill the duty to accommodate FirstNations and other indigenous peoples, uncertainties relating to theavailability and costs of financing needed in the future, changes inequity markets, inflation, changes in exchange rates, fluctuations incommodity prices, delays in the development of projects, capital andoperating costs varying significantly from estimates and the otherrisks involved in the mineral exploration and development industry,and those risks set out in the Company's public documents filed onSEDAR. Although the Company believes that the assumptions and factorsused in preparing the forward-looking information in this news releaseare reasonable, undue reliance should not be placed on suchinformation, which only applies as of the date of this news release,and no assurance can be given that such events will occur in thedisclosed time frames or at all. The Company disclaims any intentionor obligation to update or revise any forward-looking information,whether as a result of new information, future events or otherwise,other than as required by law.
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