Trius Acquires Gold Exposure via Stake in Pasofino Gold
FREDERICTON, New Brunswick, July 28, 2020 (GLOBE NEWSWIRE) — Trius Investments Inc. (TSXV: TRU.H) (“Trius” or the “Company”) is pleased to announce that it has completed a minority investment in Pasofino Gold Limited (TSXV: VEIN) (“Pasofino”) by acquiring a total of 300,000 Pasofino shares via open market purchases for a total investment of $90,000. Pasofino is Trius’ first investment in the mining sector.
Pasofino is a mining issuer listed on the TSX Venture Exchange. Pasofino’s principal business is the acquisition, exploration and development of mineral properties, including its existing Roger gold and copper project located in Quebec, Canada. Pasofino has also entered into an agreement to acquire all of the shares of ARX Resources Limited (“ARX”) which, subject to certain conditions, could provide Pasofino with an indirect 49% interest in the prospective Dugbe Gold Project located in Liberia, Africa (“Dugbe Gold”). Dugbe Gold has a multi-million-ounce gold resource.Further information about Pasofino, Dugbe Gold, and the ARX transaction, respectively, is available at the following links:https://pasofinogold.com/https://hummingbirdresources.co.uk/operations-projects/liberia/https://www.newsfilecorp.com/release/59460/Pasofino-Gold-Limited-Announces-Agreement-to-Acquire-an-Indirect-49-Interest-Excluding-10-Government-Carried-Interest-in-the-Dugbue-Gold-ProjectCommenting on the investment, Trius President and CEO Joel Freudman said: “Spot gold prices are at record highs this year, recently crossing US$1,900/ounce, against a backdrop of uncertainty around the global coronavirus pandemic, the resulting economic contraction, and unprecedented subsequent central bank liquidity injections. We believe the outlook for gold and other precious metals, and therefore our investment in Pasofino, is promising in the near-term and beyond.”Trius may increase or decrease its investment in Pasofino in the future depending on market conditions.About Trius Investments Inc.
Trius is an investment issuer searching for new investments and/or business opportunities. Trius’ common shares trade on the NEX Board of the TSX Venture Exchange under the symbol “TRU.H”.Trius is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.For further information, please contact:
President & Chief Executive Officer
Trius Investments Inc.
Phone: (647) 880-6414Cautionary StatementsNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Information and links in this press release relating to Pasofino, Dugbe Gold, and ARX are from sources believed to be reliable, but have not been independently verified by Trius. These links are included in this press release as inactive textual references for reference purposes only and the information on or connected to these websites is not part of, or incorporated by reference into, this press release.This press release contains certain forward-looking statements, including statements regarding Pasofino and its plans and transaction with ARX, prospects for Dugbe Gold, future precious metals prices, and Trius’ investment in Pasofino. These statements are based on numerous assumptions believed by management to be reasonable in the circumstances, including that Pasofino will execute its proposed transaction with ARX and that precious metals prices will continue to appreciate, and are subject to a number of risks and uncertainties, including without limitation: business and investment performance of Pasofino; inability to source, structure and/or execute future investments or transactions on favourable terms or at all; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.