Aurora, Ontario / TheNewswire / April 4, 2018 - Tri Origin Exploration Ltd. (TSX-V: TOE) (the "Company") is pleased to announce that further to its press release of March 26, 2018 it has completed a non-brokered private placement financing to raise $600,000 through the issuance of 8,777,466 common shares ("Common Shares") and 11,222,534 flow-through shares ("Flow-Through Shares) at a price of C$0.03 per Common Share and Flow-Through Share (the "Offering"). All securities issued pursuant to the offering are subject to a four-month and one day hold period from the date of closing.
Net proceeds from the Offering will be used for mineral exploration and drilling on the Company's key gold projects in the Province of Ontario and for general working capital purposes. The proceeds received from sale of Flow-Through Shares will be used to incur expenses which qualify as Canadian Exploration Expenses for purposes of the Income Tax Act (Canada). None of the proceeds of the Offering shall be payable to non-arm's length parties except for general corporate purposes in the ordinary course of business.
A cash finder's fee of $12,780 was paid to finders in connection with proceeds raised by finders pursuant to the Offering.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including final approval of the TSX Venture Exchange and applicable securities regulatory authorities.
About Tri Origin
Tri Origin Exploration Ltd. is publicly listed on the TSXV under the trading symbol TOE. Tri Origin is a leading Canadian exploration company with gold and base metal projects in Canada.
