TriMetals Mining Receives Payment from Bolivia
VANCOUVER, BC / ACCESSWIRE / September 5, 2019 / TriMetals Mining Inc. (TSX:TMI) and TMI.B), (OTCQB:TMIAF and TMIBF) (the “Company” or “TMI”) is pleased to announce that its wholly-owned subsidiary South American Silver Limited (“SASL” or the “Claimant”) has received today from the Government of the Plurinational State of Bolivia (“Bolivia”) full payment of the settlement agreed with Bolivia on August 29, 2019, (See TMI’s press release dated August 29, 2019, for further details).
The Company will cease all legal activities related to the collection of the Award.
The Company has 60 days to redeem all 116,375,152 Class B shares outstanding for cash. In the upcoming weeks, the Company will notify its Class B shareholders, their agents and/or brokers, about the procedure to redeem the Class B shares.
About TriMetals Mining Inc.
TriMetals Mining Inc. (TSX: TMI and TMI.B, OTCQB: TMIAF and TMIBF) is a growth-focused gold exploration company creating value through the exploration and development of the near-surface Gold Springs gold-silver project in mining-friendly Nevada and Utah, U.S.A.
The Company’s Class B shares are listed on the Toronto Stock Exchange under the stock symbol “TMI.B” and on the OTCQB under the stock symbol TMIBF and have no interest in the properties or assets of the Company other than the collective entitlement to 85% of the net cash (after deducting all costs, taxes and expenses and the amount due to a third party that funded the costs of the arbitration), received by the Company from an award or settlement in relation to South American Silver’s arbitration proceeding against Bolivia for the expropriation of the Malku Khota project in 2012.
TriMetals Mining Inc. Contact:
Chief Executive Officer
Certain statements contained herein constitute “forward-looking information” under applicable Canadian securities laws (“forward-looking statements”). Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as “will” and similar expressions. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements are described in the Company’s Annual Information Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com.
Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this press release describe the Company’s expectations as of the date hereof.