(TheNewswire)
Aurora, Ontario – TheNewswire - December 18,20 20 – Tri Origin Exploration Ltd. (TSXV:TOE) ( the“ Company ”) is pleased to announce thatfurther to its press release of December 17, 2020, the Company isexercising the over-allotment option and increasing the previouslyannounced non-brokered private placement financing (the“ Offering ”) from gross proceeds of $1,500,00 to $2,500,000. TheOffering consists of the sale of 20,000,000 units of the Company(“ Units ”) at a price of $0.125 per Unit. Each Unit shall consistof one common share in the capital of the Company (a “ Common Share ”) and one Common Share purchasewarrant (each whole Common Share purchase warrant, a “ Warrant ”). Eachwhole Warrant shall entitle the holder to acquire one Common Share ata price of $0.18 per Share for a period of 24 months from the closingdate of the Offering.
In addition, the Company is pleased to announce that itis increasing the Offering by an additional $250,000 (the“ AdditionalOffering ”). TheAdditional Offering consists of the sale 1,923,077 units of theCompany (“ AdditionalUnits ”) at a price of $0.13 per AdditionalUnit. Each Additional Unit shall consist of one Common Share and oneWarrant. The aggregate gross proceeds of the Offering and theAdditional Offering is $2,750,000 (collectively, the “ Offerings ”).
The Offerings are expected to close on or about January8, 2020. The completion of the Offerings is subject to receipt ofnecessary approvals, including the approval of the TSX VentureExchange. All securities issued pursuant to the Offerings will besubject to a four month and one day hold period in accordance withapplicable securities laws. The proceeds of the Offerings will beused for property exploration and working capital.
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
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”. Sinceforward-looking statements are based on assumptions and address futureevents and conditions, by their very nature they involve inherentrisks and uncertainties. Although these statements are based oninformation currently available to the Company, the Company providesno assurance that actual results will meet management’sexpectations. Risks, uncertainties and other factors involved withforward-looking information could cause actual events, results,performance, prospects and opportunities to differ materially fromthose expressed or implied by such forward-looking information.Forward looking information in this news release includes, but is notlimited to, the intention to complete the Offerings and the expectedexpenditure of the proceeds of the Offerings, 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, the Company’s abilityto obtain all approvals required in connection with the Offerings andsuccessfully complete the Offerings, the Company’s ability topredict or counteract potential impact of COVID-19 coronavirus onfactors relevant to the Company’s business 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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