Tri Origin Exploration Ltd. Effects Share Consolidation
Aurora, August 18, 2020 - Tri Origin Exploration Ltd. (TSXV:TOE) (the "Company") announces a consolidation of its issued and outstanding share capital on the basis of one (1) post-consolidation share for each five (5) pre-consolidation common shares (the "Consolidation"). Any fraction of a share will be rounded down to the nearest whole number. The shares will begin trading on a consolidated basis and with a new CUSIP number on August 20, 2020. As a result of the Consolidation, the outstanding shares of the Company will be reduced to approximately 27,068,609.
Management of the Company believes that the share consolidation will position the Company to gain greater exposure to investors allowing access to capital to achieve its financial needs and as a result, increase the overall liquidity of the Company and value to shareholders.
The Company will not be changing its name and trading symbol in connection with the Consolidation.
Trading on a Consolidated Basis: August 20, 2020
New CUSIP: 89557L301
New ISIN: CA89557L3011
The Company's objective is to evaluate its key gold projects in the Canadian Shield of Ontario. Diamond drilling programs have been planned at the Sky Lake project in northwest Ontario and the North Abitibi project in northeast Ontario. Sky Lake is located between past-producing mines at the Pickle Lake gold mining district and hosts a non-compliant gold resource initially delineated in the 1950's. Tri Origin's program is designed to confirm historic results and test for extensions to the known deposit. The North Abitibi project is along trend from the producing Casa Berardi Gold Mine and other past producing mines to the east in Quebec and is south of the Detour Lake Gold Mine. Previous, near-surface drilling by Tri Origin has delineated extensive gold mineralization in zones which now require deeper drilling to determine their economic significance.
Completion of the share consolidation allows the Company to consider financing opportunities to advance these projects. Shareholders will be informed of the initiation of these activities as soon as possible following required approvals.
For information about Tri Origin, please contact: Dr. Robert Valliant, President, (905) 727-1779; Steve Dawson, (647) 998-9495; E-mail: invest@triorigin.com or visit www.triorigin.com, SEDAR www.sedar.com.
About Tri Origin
Tri Origin Exploration Ltd. is publicly listed on the TSX-V under the trading symbol TOE. Tri Origin is a leading Canadian exploration company with gold and base metal projects in Canada.
Forward Looking Statements:
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 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 date or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.