TriAusMin Completes C$3.2 Million Private Placement
Published : February 17, 2011

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  

TORONTO, ONTARIO--(Marketwire - Feb. 16, 2011) - TriAusMin Limited (TSX:TOR)(News - Market indication) ("TriAusMin" or the "Company") is pleased to announce that it has today completed a private placement to raise C$3.2 million through the issuance of 20 million units ("Units") at a price of C$0.16 per Unit (see news release dated February 7, 2011).

Each Unit consisted of one ordinary share and one subscription receipt (a "Subscription Receipt") which, upon receipt of shareholder approval, will be exchanged at no additional cost for one-half of one ordinary share purchase warrant. Each whole warrant (a "Warrant") will entitle the holder to acquire an additional ordinary share at a price of C$0.25 for a period of 12 months following the date of issuance of the Warrants. If the closing sale price of the Company's ordinary shares on the Toronto Stock Exchange is greater than C$0.40 per share for a period of 20 consecutive trading days at any time following the issuance of the Warrants and June 16, 2011, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof within five trading days of such 20 day period, and in such case the Warrants will expire on the 21st business day after the date on which such notice is given.

An aggregate of C$180,000 was paid to certain registered securities dealers which acted as finders in connection with the private placement, including Sprott Private Wealth LP.

The proceeds of the private placement will be used for the purposes of advancing the Company's Woodlawn Tailings Retreatment Project and to conduct exploration work on the Woodlawn and Lewis Ponds Properties located in the Lachlan Fold Belt of south eastern Australia, and for general corporate purposes.

All securities issued pursuant to the offering will be subject to a four-month hold period from the date of closing. The private placement remains subject to final approval of the TSX and the ASX.

TriAusMin is engaged in the exploration for, and potential development of, base and precious metals deposits located in the Lachlan Fold Belt in New South Wales, Australia. In particular, TriAusMin's exploration projects include large, 100% owned landholdings at Woodlawn, Lewis Ponds as well as other regional exploration properties. 

This news release contains forward-looking statements and forward-looking information, which are based on information currently available to the Company, and the Company provides no assurance that actual results will meet management's expectations. Forward-looking information includes estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking information may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking information is based on assumptions and addresses future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, the receipt of the requisite regulatory approvals, the receipt of shareholder approval for the issuance of Warrants, and the use or proceeds and future business plans of the Company, could differ materially from those currently anticipated in such information for many reasons such as: the failure to obtain the requisite approvals; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking information. The Company does not undertake to update any forward-looking information that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

For more information, please contact

TriAusMin Limited
Dr. Robert Valliant
Chief Executive Officer and Executive Director
Head Office:
Suite 702, 191 Clarence Street
Sydney, NSW 2000 Australia
+61 02 9299 7800 (Sydney)
In Canada:
+1 905 727 8688 (Toronto area)
Data and Statistics for these countries : Australia | Canada | All
Gold and Silver Prices for these countries : Australia | Canada | All

Tri Origin Minerals

Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile
Contact Cpy

Tri Origin Min. is a zinc and lead exploration company based in Australia.

Tri Origin Min. develops zinc, lead, copper, gold and silver in Australia.

Its main assets in development are WOODLAWN UNDERGROUND and WOODLAWN RETREATMENT in Australia and its main exploration properties are OVERFLOW, CULLARIN, PYLARA LIMESTONE, GURRUNDAH BARITE, CALARIE and LEWIS PONDS in Australia.

Tri Origin Min. is listed in Australia. Its market capitalisation is AU$ 15.3 millions as of today (US$ 14.3 millions, € 10.7 millions).

Its stock quote reached its highest recent level on January 05, 2007 at AU$ 1.73, and its lowest recent point on January 03, 2014 at AU$ 0.03.

Tri Origin Min. has 251 390 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
Project news of Tri Origin Minerals
4/11/2007Drilling Commences For Woodlawn Feasibility Study, NSW
Corporate news of Tri Origin Minerals
2/17/2011AusMin Completes C$3.2 Million Private Placement
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
AU$ 0.061
08/05 13:43 -
Prev close Open
0.060 0.060
Low High
0.060 0.061
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.061 -%
Volume 1 month var.
32,500 -%
24hGold TrendPower© : 24
Develops Copper - Gold - Lead - Silver - Zinc
Explores for Barite - Copper - Diamonds - Gold - Lead - Silver - Zinc
Interactive chart Add to compare
Print Compare Export
Last updated on : 3/3/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
announces expected non-cash impairment
AU$ 7.51+1.35%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 2.99-2.61%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 0.50+4.82%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 0.64-5.60%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+0.00%Trend Power :
Closes Bridge Loan Financing
CA$ 2.98+0.34%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 8.48+2.42%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.28-1.72%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.25-1.96%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.96+7.10%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 53.77-1.77%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.03+3.13%Trend Power :