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Trigon Metals Inc. (TSX-V: TM, OTCPK: PNTZF) ("Trigon" or the "Company") is pleased to announce that the Namibian Competition Commission (the "Competition Commission") has granted approval, effective September 12, 2025, for the previously announced sale of the Company's interest in the Kombat Mine and associated assets (the "Transaction") to Horizon Corporation ("Horizon") (Please see the Company's press release dated May 29, 2025 for further details regarding the Transaction).
The granting of competition approval initiates the final steps towards closing the Transaction. The parties continue to work collaboratively to complete the remaining closing conditions.
Richard Tayelor, Director of Horizon Corporation, commented:
" We are pleased to have reached this important step and thank the Competition Commission for their timely approval. Horizon is committed to working alongside Trigon and all stakeholders to ensure a smooth project expansion phase and mine restart. We look forward to unlocking the mine's long-term potential and ensuring sustainable operations for the benefit of all parties. "
Mr. Knowledge Katti, founding shareholder in Trigon Namibia, added:
"The approval from the Namibian Competition Commission marks a pivotal moment for the Kombat Mine, opening a new chapter of growth and opportunity. I am proud that this Transaction ensures continued community involvement through Epangelo Mining's 10% shareholding, reinforcing our commitment to Namibia's sustainable development. We are thrilled about the next steps to bring the mine back into operation, creating jobs for Namibians and delivering lasting benefits to the region."
Trigon will provide further updates as the parties advance toward completion of the Transaction. The Transaction remains subject to the final approval of the TSX Venture Exchange.
Trigon Metals Inc. is a publicly-trading Canadian exploration and development company with its core focus on copper and silver holdings in mining-friendly African jurisdictions. The Company holds the Kalahari Copperbelt Project in Namibia. In Morocco, the Company is advancing two exploration projects; Addana, which hosts silver-bearing veins along with other metals, and Silver Hill, a sedimentary copper prospect that has already undergone drilling.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the transaction with Horizon, the integration of operations, timing of closing of the Transaction, the Company's ability to satisfy the closing conditions of the Transaction, and anticipated benefits of the transaction, the Company's strategies and the Company's abilities to execute such strategies, and the Company's future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250918436754/en/
For further information, contact Tom Panoulias, VP Corporate Development:
1(647)276-6002 ext. 1127
IR@trigonmetals.com
Website: www.trigonmetals.com
