Vancouver, Canada – July 10, 2023 – Trench Metals Corp. (the “Company”) (TSXV: TMC, FWB: 33H2) is pleased to announce 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 of up to $2,500,000. Each Unit will consist of one common share of the Company and one common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to purchase one common share of the Company at a price of $0.30 at any time on or before the date which is twelve months after closing of the Offering.
The net proceeds raised from the Offering will be used to advance exploration work at the Higginson Lake Uranium Project, located in Northern Saskatchewan, and for general working capital purposes.
The Company may pay finders’ fees to eligible parties who have assisted in introducing subscribers to the Offering. All securities issued in connection with the Offering will be subject to restriction on resale for a period of four-months-and-one-day in accordance with applicable securities laws. Closing of the Offering remains subject to the approval of the TSX Venture Exchange.
Incentive Option Grant
The Company also announces that it has granted 1,500,000 incentive stock options (the “Options”) to the directors and officers of the Company. The Options vest immediately and 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 mineral exploration opportunities. Our main goal is the advancement of various projects from discovery all the way to production. This vertically integrated strategy allows Trench Metals to achieve exceptional shareholder value through the entire life-cycle of the mining process.
For further information, contact the Company at info@trenchmetals.com, or visit the Company’s website at www.trenchmetals.com.
On behalf of the Board,
Trench Metals Corp.
Simon Cheng, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the development of the Higginson Lake Uranium Project and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
