- Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) to hold a special meeting on June 11, 2025, for shareholder vote on Kombat Mine sale.
- The sale to Horizon Corporation Limited is in final negotiation stages, potentially offering Trigon up to $40M.
- Proceeds will be used to advance Trigon's copper and silver exploration projects in Africa.
Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) has announced its upcoming annual and special meeting of shareholders, scheduled for June 11, 2025, at 10:00 a.m. ET. A key agenda item will be the vote on the proposed sale of the company's interest in the Kombat Mine to Horizon Corporation Limited.
The transaction, which is in the final stages of negotiation, is expected to be formalized through a definitive Share Purchase Agreement (SPA) in the coming days. Trigon anticipates that the sale could transition the company from an under-capitalized operator to a well-funded exploration entity.
Upon completion, Trigon plans to leverage the anticipated proceeds, which could amount to approximately $40 million plus potential royalties, to further develop its copper and silver projects in Morocco and the Kalahari Copper Project in Namibia. This strategic shift aims to enhance Trigon's focus on high-growth areas without additional shareholder dilution.
Jed Richardson, Executive Chairman and CEO of Trigon, highlighted the sale as an opportunity to concentrate efforts on projects with the highest returns, while returning capital to shareholders over time. The proposal remains subject to several approvals, including regulatory and shareholder consent.
Details of the proposed transaction and terms will be included in the management information circular, which will be mailed to shareholders of record by May 6, 2025.
