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TriMetals Mining raises C$4.3M in placement for exploration of Gold Springs property

TriMetals MiningInc. has raised gross proceeds of C$4.3 million in a two-tranche privateplacement, which will go toward working capital and exploration of its property in theNevada/Utah border, the company said July 12.

The company issued 17,393,000 units at 25 cents apiece, witheach unit comprising 1 common share and 0.5 of a common share purchase warrant,exercisable for 1 additional common share at a price of 40 cents per share over36 months.

The company also issued 79,200 nontransferable compensation warrants,exercisable for 18 months at a price of 30 cents apiece.

All securities issued under the private placement are subjectto a four-month hold period.