Trinity One metals announces private placement

* Trinity One Metals (TSXV:TOM:CA [https://seekingalpha.com/symbol/TOM:CA]) on Monday said it has proposed to undertake a non-brokered private placement of up to 8,000,000 units, to raise total gross proceeds of up to $400,000.
* Each unit consists of one common share and one common share purchase warrant.
* Each warrant allows the purchase of one share at $0.075 within 36 months, subject to TSX Venture Exchange (TSXV) approval.
* Funds will be used to explore new growth opportunities, maintain existing exploration portfolio, and in general working capital.
* The units will be offered to qualified investors in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation.
* All securities will be subject to a four-month hold period.
* Insiders, including officers and directors, intend to subscribe for 4,000,000 units, qualifying as a "related party transaction."
* The completion of the offering is subject to TSXV approval.
* Source: Press Release [https://seekingalpha.com/pr/20232735-trinity-one-metals-announces-private-placement]

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