Company sells 27.25 million common shares at $0.02 apiece in offering
By Devika Patel
Knoxville, Tenn., Aug. 13 – Trio Resources, Inc. completed a $545,000 private placement of stock on Aug. 7, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 27.25 million common shares at $0.02 per share. The price per share is a 33.33% discount to the $0.03 closing share price on Aug. 6.
Proceeds will be used to execute the company’s business plan.
The Toronto company acquires and develops mining assets.
| Issuer: | Trio Resources, Inc.
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| Issue: | Common stock
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| Amount: | $545,000
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| Shares: | 27.25 million
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| Price: | $0.02
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| Settlement date: | Aug. 7
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| Stock symbol: | OTCBB: TRII
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| Stock price: | $0.03 at close Aug. 6
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| Market capitalization: | $11.19 million
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