Brief: Trimetals Mining Signs LOI To Sell 100% Interest In Escalones Copper Project To Wealth Minerals

Gold Springs Resource

04/12/2018 13:53

Dec 4 (Reuters) - Trimetals Mining Inc  TMI.TO :
    * PRESS RELEASE - TRIMETALS MINING SIGNS LETTER OF INTENT TO
SELL
ITS 100% INTEREST IN THE ESCALONES COPPER PROJECT TO WEALTH
MINERALS LTD. TO CREATE NEW CHILEAN COPPER FOCUSED COMPANY
    * TRIMETALS MINING - EXECUTED LOI WITH WEALTH MINERALS LTD.
DIVESTITURE OF CO'S 100% INTEREST IN ESCALONES COPPER PROJECT IN
CHILE
    * TRIMETALS MINING INC - DIVESTITURE OF INTEREST IN
ESCALONES
COPPER PROJECT TO A NEWLY FORMED SUBSIDIARY OF WEALTH MINERALS
    * TRIMETALS MINING- WEALTH MINERALS WILL HAVE 45 DAY
EXCLUSIVITY
PERIOD TO COMPLETE TECHNICAL AND LEGAL DUE DILIGENCE ON
ESCALONES COPPER PROJECT
    * TRIMETALS MINING INC - PRIOR TO SPIN OUT, WEALTH COPPER IS
TO
RAISE AT LEAST CDN$5.0 MILLION IN FUNDING
    * TRIMETALS MINING INC - TMI IS TO HOLD 30% OF SHARES OF
WEALTH
COPPER POST-FUNDING
    * TRIMETALS MINING - WILL ALSO BE ENTITLED TO NOMINATE ONE
REPRESENTATIVE TO WEALTH COPPER'S BOARD FOR SO LONG AS TMI HOLDS
AT LEAST 20% OF SHARES
    * TRIMETALS MINING INC - WILL ALSO HAVE A RIGHT TO
PARTICIPATE IN
FUTURE EQUITY FINANCINGS OF WEALTH COPPER FOR UP TO TWO YEARS
POST-CLOSING

Source text for Eikon:  ID:nGNX6hwT8K 
Further company coverage:  TMI.TO 

 ((Reuters.Briefs@thomsonreuters.com;))