TORONTO, Jan. 17, 2018 (GLOBE NEWSWIRE) -- ABERDEEN INTERNATIONAL INC. (“Aberdeen” or the “Company”) (AAB.TO) has acquired 1,428,571 Units of Trigon Metals Inc. (“Trigon”) (TM.V) in a non-brokered private placement financing of Trigon at a price of $0.35 per Unit. Each Unit is comprised of one common share of Trigon (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one Share at a price of $0.50 for a period of 24 months following the closing date of the First Tranche, subject to an acceleration provision whereby in the event that at any time after the expiry of the statutory hold period, the Shares trade at $1.00 or higher on the TSX Venture Exchange (on an average trading volume of not less than 200,000 Shares per day) for a period of 20 consecutive days, the Company shall have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise the acceleration right.
Prior to the acquisition of the aforesaid securities, Aberdeen beneficially owned 2,817,169 Trigon common shares. As a result of this transaction, Aberdeen’s ownership has increased to 4,245,740 Common Shares and 1,928,571 Warrants, which holdings represent 17.0% of Trigon common shares on an issued and outstanding basis or 22.9% on a partially fully diluted basis.
Aberdeen completed this private placement for investment purposes and may buy or sell Trigon securities in the future. In connection with the Trigon financing, Aberdeen has covenanted to not exercise any warrants if such exercises would result in Aberdeen holding 20% or more of the outstanding common shares.
Trigon’s head office is at P.O. Box 67, Toronto, Ontario M5H 2M5.
ABOUT ABERDEEN INTERNATIONAL INC.
Aberdeen International is a global resource investment company and merchant bank focused on small capitalization companies in the mining and metals sector.
For additional information, including to obtain a copy of either of Aberdeen’s related early warning reports, please visit our website at www.aberdeeninternational.ca, follow us on Facebook, Twitter and Linkedin or contact:
Interim President and Chief Executive Officer
Aberdeen International Inc.
65 Queen Street West, Suite 800
Toronto, Canada M5H 2M5
This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the future financial or operating performance of the Company, Aberdeen’s possible future trading and intentions, valuations of investments, proposed transactions and investments, investment philosophy and liabilities and commitments. Generally, forward- looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: financing not being available at desired prices; general business, economic, competitive, political and social uncertainties; and other general risks of the mining and investment industries. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.