KELOWNA, BC, Feb. 12, 2007 -- Trigon Uranium Corp. ("Trigon") (TSX-V: TEL) announced that on February 9, 2007 it completed its private placement first announced on January 17, 2007. Trigon issued 3,725,500 units ("Units") at a price of $0.80 per Unit for gross proceeds of $2,980,400 (the "Offering"). Each Unit consisted of one common share and one-half of one transferable warrant, with each whole warrant ("Warrant") entitling the holder to purchase one common share of Trigon at $1.00 per share until August 8, 2008. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:of... />
Jones Gable, Raymond James, Research Capital, Octagon Capital, Argosy Securities, TD Waterhouse, Haywood Securities, Scott McCredie, Lines Overseas Management Limited, M Partners and BMO Nesbitt Burns acted as finders, and received finders' fees payable in cash equal to 8% of the gross proceeds of the Offering sold by such finders aggregating to $149,792 and non-transferable warrants which entitle the Agents to acquire up to an aggregate of 234,050 shares of Trigon at a price of $0.90 per share until February 8, 2008.
Trigon intends to use the proceeds of the Offering to fund project generation and exploration of its uranium properties. The Offering has been approved by the TSX Venture Exchange.
The common shares and Warrants sold pursuant to the Offering may not be resold until June 10, 2007 pursuant to the requirements of the TSX Venture Exchange and applicable securities laws.
About Trigon Uranium Corp.
Trigon Uranium Corp. is a uranium exploration and development company focused on the known deposits of the south-western <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:sm... />United States, a region that has produced over one billion pounds of uranium. Trigon has a highly-qualified team of uranium exploration experts to direct its efforts at its Marysvale and Henry Mountains projects of southern Utah, and elsewhere in North America. Trigon also operates a portfolio of high potential diamond exploration properties within a wholly-owned subsidiary, Trigon Diamond Corporation Ltd. Trigon has 47,543,673 shares outstanding and its stock trades on the TSX Venture Exchange under the symbol "TEL".
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The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future developments that the company expects to occur, are forward-looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
please visit http://www.trigonuraniumcorp.com or contact: Sidney Himmel, President and Chief Executive Officer, Trigon Uranium Corp., Tel: (250) 317-3624, Email: sidney.himmel@trigonuraniumcorp.com; Jeanny So, Broker Relations Specialist, CHF Investor Relations, Tel: (416) 868-1079 x225, Email: jeanny@chfir.com