Vancouver, Canada – December 18, 2023 – Trench Metals Corp. (the “Company”) (TSXV: TMC, FWB: 33H2) is pleased to announce it has completed a non-brokered private placement (the “Offering”) of 2,200,000 units (each, a “Unit”) at a price of $0.13 per Unit for gross proceeds of $286,000. Each “Unit” consists of one flow-through common share (each, an “FT Share”) and one share purchase warrant entitling the holder to acquire an additional non-flow-through common share at a price of $0.20 until December 18, 2024.
Proceeds from the Offering will be used to incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act and “flow through mining expenditures” as defined in subsection 127(9) of the Income Tax Act. In connection with completion of the Offering, the Company paid $17,160 and issued 132,000 non-transferable share purchase warrants (each, a “Finders’ Warrant”) to an arms-length third-party who assisted in introducing the subscriber to the Offering. The Finders’ Warrant are exercisable on the same terms as the Warrants.
All securities issued in connection with the Offering are subject to restrictions on resale until April 19, 2024 in accordance with applicable securities laws.
For further updates and information, please visit the Trench Metals website at www.trenchmetals.com.
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.[/vc_column_text][vc_column_text]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.
