Bubble Pricker Posted July 20, 2007 Report Share Posted July 20, 2007 Trigon Announces Non-brokered Private Placement07:00 EDT Tuesday, July 17, 2007 KELOWNA, BC, July 17 /CNW/ - Trigon Uranium Corp. (TSX-V: TEL) today announced that the Company will sell on a non-brokered private placement basis up to 4,000,000 units ("Units") at $0.50 per Unit for gross proceeds of up to $2.0 million. If the offering is fully subscribed, Trigon will be entitled to sell up to an additional 1,000,000 Units to raise additional gross proceeds of $500,000. Each Unit will consist of one common share of the Company and one-half of one transferable warrant. Each whole warrant will entitle the holder to purchase one common share of the Company for $0.65 for a period of 24 months following closing of the private placement. Finders will receive a cash commission equal to 8% of the gross proceeds of the sale of the Units and be issued non-transferable agents' warrants ("Agent Warrants") to purchase Units in number equal to 10% of the Units sold under the private placement. Each Agent Warrant will entitle the holder to purchase one Unit for $0.50 for a period of 24 months after the date the private placement closes. The use of the funds will be for drilling of the Henry Mountains project, analysis and planning in respect of the Marysvale Project, small mine acquisitions, and general working capital. Link to comment Share on other sites More sharing options...
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