Tri Origin Initiates Strategic Business Changes
Aurora, February 18, 2020 - Tri Origin Exploration Ltd. (TSXV:TOE) (the "Company") is pleased to announce that it is reviewing corporate changes designed to revitalize the Company's exploration efforts. Over the past number of months the Board of Directors has been conducting reviews of strategic opportunities that may be available to the Company with the objective of seeking to maximize value to shareholders. A number of actions have recently been taken which include; additions to the board of directors, structuring exploration agreements on two properties and the initiation of a private placement financing. The strategic review process continues and additional structural changes are now being contemplated by the Company. As a result of the current status of the review process, the Board has decided not to proceed with closing the second phase of a private placement of its common shares described in greater detail in the Company's news releases of November 13, 2019, December 20, 2019, and January 17, 2020.
Tri Origin's Board of Directors and management believe that the Company's market capitalization does not adequately reflect the value of its property assets and the advances made in exploration and evaluation of these assets. The Company's projects are at the point where additional capital is required to bring them to the next stage of development.
The junior resource market has been through a prolonged downtrend and it is hoped that a return of investor sentiment is being signalled by the increase in gold price. Tri Origin through this review process intends to best position itself for this by taking advantage of business opportunities identified and approved by the Board to provide shareholders with a renewed exploration focus and project activity.
Shareholders will be provided with additional information if the Company intends to propose a strategic course of action. There are no assurances that the strategic review process will lead to any action or that an appropriate opportunity will be identified or recommended by the Board.
For information about Tri Origin, please visit www.triorigin.com or SEDAR www.sedar.com or contact:
Dr. Robert Valliant, President
Tel: (905) 727-1779
E-mail: invest@triorigin.com
Tri Origin Exploration Ltd. is publicly listed on the TSX Venture Exchange under the trading symbol TOE. Tri Origin is a leading Canadian exploration company with gold and base metal projects in Canada.
CAUTIONARY STATEMENT: 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.
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include 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 statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify beneficial business opportunities, failure to secure or act on the identified business opportunities, failure to convert the potential in the pursued business opportunities to tangible benefits to the Company or its shareholders, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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