By Laura Lutz
Des Moines, Nov. 6 - Trigon Exploration Canada Ltd. settled the second tranche of a previously announced private placement for C$517,335.72, bringing the total proceeds to C$1,545,369.54.
The placement has consisted of 7,024,407 units of one share and one half-share warrant at C$0.22 per unit, including 2,351,526 units in the second tranche.
Each whole warrant will be exercisable at C$0.30 for 18 months.
The deal priced as a sale of between 4 million and 4.8 million units at C$0.25 apiece on Sept. 27. It was amended to a C$1.2 million placement of 5,454,545 units at C$0.22 each.
HDL Capital Corp. was lead investment banker for the deal.
Proceeds will be used for exploration on the company's Marysvale Uranium Project in Utah and for working capital.
Trigon is a uranium company based in Kelowna, B.C.
| Issuer: | Trigon Exploration Canada Ltd.
|
| Issue: | Units of one share and one non-transferable half-share warrant
|
| Amount: | C$1,545,369.54
|
| Units: | 7,024,407
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Manager: | HDL Capital Corp.
|
| Pricing date: | Sept. 27
|
| Amended: | Oct. 19
|
| Settlement date: | Nov. 6
|
| Stock symbol: | TSX Venture: TEL
|
| Stock price: | C$0.24 at close Sept. 26
|
| Stock price: | C$0.24 at close Oct. 19
|
| Stock price: | C$0.30 at close Nov. 5
|
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