VANCOUVER, June 9 /CNW/ - Trivello Energy Corp. (TSX-V "TRV"; Frankfurt "T6U1"), (the "Company") is pleased to announce that it has completed a private placement of a total of 4,000,000 units at a price of $0.05 per unit for gross proceeds of $200,000.
Each unit consists of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share until June 8, 2012. The securities issued are subject to a four-month hold period, expiring October 8, 2010. No finder's fee was paid in connection with the private placement.
The proceeds will be used for general working capital and to fund the acquisition of the historical Tom Gold Mine.
The Company also received TSX Venture Exchange acceptance of the Tom Gold Mine Project acquisition. The Tom Gold Mine Project, consisting of five mineral claims totaling 650 acres (263 hectares), is situated approximately 10 kilometres northeast of Yellowknife, NWT. Under the terms of the acquisition agreement, the Company will acquire a 100% interest in the Tom Gold Mine Project from Zimtu Capital Corp. and 877384 Alberta Ltd. for $100,000 and the issuance of 2.0 million common shares of the Company. The shares have been issued and are subject to a four month hold period, expiring October 8, 2010. No finder's fee was paid in connection with the property acquisition.
With these share issuances, the Company now has 24,534,822 common shares issued and outstanding (fully diluted: 37,661,022).
On Behalf of the Board of Directors
Trivello Energy Corp.
Tel: (604) 687-3113
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
SOURCE TRIVELLO ENERGY CORP.
For further information: For further information: Jay Roberge, President, Tel: (604) 687-3113