Trinity One Metals increases financing to $600,000

Executive Summary

• Trinity One Metals upsized its non‑brokered private placement from $400,000 to $600,000, authorizing up to 12 million units at C$0.05 per unit.
• Each unit includes one common share and one warrant (exercise price C$0.075, exercisable for 36 months after closing).
• Net proceeds will fund assessment of new growth opportunities, maintenance of the existing exploration portfolio, and general working capital.

Key Details

• Offering Size: Increased to a maximum of 12 million units, raising up to C$600,000 in gross proceeds.
• Unit Composition: 1 common share + 1 common share purchase warrant per unit.
• Warrant Terms: Right to purchase one additional common share at C$0.075 per share, exercisable any time up to 36 months after the closing date, subject to TSX‑V approval.
• Purchase Price: C$0.05 per unit.
• Use of Proceeds:
• Assessment of new growth opportunities.
• Maintenance of existing exploration portfolio.
• General working capital.
• Finder’s Fees: Company may pay eligible finders, subject to securities law compliance and TSX‑V policies.
• Holding Period: All securities issued are subject to a hold period expiring four months and one day after issuance.
• Regulatory Conditions: Completion pending receipt of all required regulatory approvals, including TSX‑V approval.
• Related Party Transaction: Insiders (officers/directors) intend to subscribe for 4.3 million units; transaction qualifies as a related‑party under MI 61‑101 but is exempt from formal valuation and minority shareholder approval because:
• No securities listed on specified major exchanges.
• Insider participation does not exceed 25 % of market capitalization.
• Material Change Reporting: Company expects not to file a material change report prior to closing, aiming for an expedited close.

Notable Quotes

(No executive quotes were provided in the release.)