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KELOWNA, BC, Aug. 9 /CNW/ - Trigon Uranium Corp. ("Trigon") (TSX-V: TEL)
announced that on August 8, 2007 it completed its private placement first
announced on July 17, 2007. Trigon issued 5,096,000 units ("Units") at a price
of $0.50 per Unit for gross proceeds of $2,548,000 (the "Offering"). Each Unit
consisted of one common share and one-half of one transferable warrant
("Warrant"), with each whole Warrant entitling the holder to purchase one
common share of Trigon at $0.65 per share until August 8, 2009.
PowerOne Capital Markets Limited, CIBC World Markets, Canaccord Capital
Corporation, Haywood Securities Inc., M Partners, Research Capital, HDL
Capital Corporation, Jones, Gable & Co. Ltd., Integral Wealth Securities
Limited, Barrington Capital Corp., LOM Capital Limited, Roche Securities Ltd.,
and Christopher Silaj acted as finders. Finders' fees were payable in cash
equal to 8% of the gross proceeds of the Offering sold by such finders
aggregating to $188,920 and also included non-transferable options which
entitle the Finders to acquire up to an aggregate of 472,300 units of Trigon
("Finders' Units") at a price of $0.50 per Finders' Unit until August 8, 2009.
Each Finder's Unit will consist of one common share of Trigon and one-half of
one non-transferable warrant, with each whole warrant entitling the holder to
purchase one common share of Trigon at $0.65 per share until August 8, 2009.
Trigon intends to use the proceeds of the Offering to fund drilling of
the Henry Mountains project, analysis and planning in respect of the Marysvale
project, small mine acquisitions and general working capital. The Offering has
been approved by the TSX Venture Exchange.
The common shares and Warrants sold pursuant to the Offering may not be
resold until December 9, 2007, pursuant to the requirements of the TSX Venture
Exchange and applicable securities laws.
About Trigon Uranium Corp.
Trigon Uranium Corp. is a uranium exploration and development company
focused on the known deposits of the United States South West. This region has
produced over one billion pounds of uranium. Trigon has a highly qualified
team of uranium exploration experts located in Canada, Utah, and Colorado to
direct its exploration and development efforts in the United States South
West. Trigon's strategies include the development of advanced uranium
projects, entry into uranium mining on an expeditious basis, and opportune
acquisitions of Uranium development properties for operation or sale. The
company has offices in Kelowna (British Columbia), Golden (Colorado), and Moab
(Utah). The company's shares trade on the TSX Venture Exchange under the
Should you wish to receive Company news via email, please email
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The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. This release
includes certain statements that may be deemed "forward-looking statements".
All statements in this release, other than statements of historical facts,
that address future developments that the company expects to occur, are
forward-looking statements. Although the company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results or developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results to differ
materially from those in forward looking statements include market prices,
exploitation and exploration successes, and continued availability of capital
and financing and general economic, market or business conditions. Investors
are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from
those projected in the forward-looking statements. The Company does not assume
any obligation to update or revise its forward-looking statements, whether as
a result of new information, future events or otherwise.
For further information:
For further information: please visit www.trigonuraniumcorp.com or
contact: Sidney Himmel, President and Chief Executive Officer, Trigon Uranium
Corp., Tel: (250) 317-3624, Email: email@example.com; Jeanny
So, Broker Relations Specialist, CHF Investor Relations, Tel: (416) 868-1079
x225, Email: firstname.lastname@example.org