Trigon Metals Announces Proposed Name Change to Safi Silver, AGM, Management Changes and Intention to Reprice Warrants

Rhea-AI Impact

(Neutral)

Rhea-AI Sentiment

(Very Positive)

Tags

management

01/22/2026 - 07:41 AM

TORONTO--(BUSINESS WIRE)-- Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) announces March 5, 2026 as the date of its Annual General Meeting (“AGM”) of the Trigon shareholders where a vote will be taken to change the name of the Company to Safi Silver Corp., marking Trigon’s transition to its next phase as a focused, well-capitalized silver and base metal exploration in Morocco. Trigon also announces management and leadership updates and its intention to reprice warrants and the adoption of a restricted share unit and deferred share unit plan.

2026 Annual General Meeting of Shareholders

The Company announces that it will be holding its annual general and special meeting of common shareholders on Thursday, March 5, 2026, at 10:00 a.m. ET (the “Meeting”) to, among other matters, vote on the proposed name change of the Company to Safi Silver Corp.

Name Change to Safi Silver

The Company intends to change its name to Safi Silver to reflect its new focus on polymetallic silver exploration projects in Morocco following the successful divestiture of its ownership interests in the Kombat Mine in Namibia. The name change is one of the resolutions on the agenda at the upcoming AGM and is subject to approval of the TSX Venture Exchange (“TSXV”). Additional information concerning the name change will be included in a management information circular to be mailed to Trigon shareholders.

Commenting, Jed Richardson Executive Chairman said, “The name Safi, can be translated from Arabic as clear, pure, or unblemished, a fitting name change given our new focus on Morocco, and shift from copper to silver. Following the sale of the Kombat Mine, this marked transition brings an inflow of US$24M from the sale of the mine, plus a potential US$13M in bonuses and more in royalties.”

Management Changes

With the completion of the Horizon transaction and the divestiture of Trigon’s Kombat-related assets (see press release dated December 23, 2025), the Company’s former operational management personnel based in Namibia is no longer affiliated with Trigon. As Trigon transitions to exploration, its strategic and operational priorities are now centered on advancing its silver exploration licences in Morocco. Trigon remains focused on advancing its exploration portfolio and creating long-term shareholder value through technical excellence, disciplined capital allocation, and strong governance.

The following management structure reflects this refined focus and clarifies leadership roles aligned with Trigon’s exploration-led strategy going forward.

Effective immediately, Jed Richardson has resumed the role of President of Trigon Metals. Mr. Richardson has a fifteen-year history, assessing projects in Morocco and building relationships culminating in the Addana and Silver Hill Projects. Prior to his career in junior mining development, Mr. Richardson worked in equity research focused on silver companies and was instrumental in the advancement of some of today’s leading silver companies.

As part of Trigon’s renewed exploration focus, the Company is pleased to announce that Dr. Andreas Rompel has transitioned from Vice President, Exploration to Chief Exploration Officer. Dr. Rompel brings more than 35 years of international exploration experience and deep technical expertise in mineral systems analysis, exploration strategy, and project evaluation, having started his mining career on the African continent with Anglo American in 1988. Since joining Trigon, Dr. Rompel has been instrumental in shaping the Company’s exploration approach and advancing its Moroccan asset base. In his expanded role, he will continue to lead exploration strategy across Trigon’s portfolio.

In connection to the transition, the Company also announced that Mr. Rennie Morkel departs his role as President of Trigon and will continue with Horizon Corporation in his leadership role at the New Horizon Mine. Mr. Morkel played a central role in overseeing operations during a pivotal period for Trigon and in supporting the successful execution of the Horizon transaction. The Company thanks Mr. Morkel for his contributions and wishes him continued success with Horizon.

In addition, Mr. Fanie Müller has departed his role as Vice President, Operations at Trigon. The Company thanks Mr. Müller for his service and operational contributions during his tenure with Trigon.

The announced leadership updates reflect a natural evolution for Trigon following the successful completion of the Horizon transaction. The Company is entering its next chapter with a strong technical and financial leadership team in place. The management and directors of Trigon Metals wish to thank Rennie and Fanie for their contributions and wish them continued success in their careers.

Intention to Reprice Warrants

The Company also announces its intention to amend the exercise price of 2,500,000 common share purchase warrants (the “Warrants”) that were issued pursuant to the Company’s private placement of units that closed on July 12, 2023 (please see the Company’s July 12, 2023, press release for further details). Each Warrant is currently exercisable to purchase one common share of the Company at a price of $1.50 until July 12, 2026. Following the proposed amendments, each Warrant will have an exercise price of $0.50. All other terms and conditions of the Warrants remain the same. The amended Warrant terms are subject to the approval of the TSX-V.

RSU/DSU Plan

The Company has adopted a restricted share unit and deferred unit plan (the “RSU/DSU Plan”). The aggregate number of Trigon common shares that are reserved for issuance under the plan is 5,500,000 Trigon shares. Further details regarding the RSU/DSU Plan will be included in the management information circular of the Company which will be sent to shareholders and filed on SEDAR+ in connection with the Meeting.

Trigon Metals Inc.

Trigon Metals Inc. is a publicly-trading Canadian exploration company with its core focus on silver holdings in mine-friendly Morocco. The Company is focused on advancing its exploration projects in Morocco; Addana, which hosts silver-bearing veins along with other metals, and Silver Hill, a silver and copper prospect that has already undergone drilling. The Company also holds the Kalahari Copperbelt Project in Namibia.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding the Company’s post-transaction leadership and management structure, the anticipated benefits of the management changes, the Meeting and the expected voting results, the Company’s strategies following the completion of the Horizon transaction, including in respect of the Addana Project, the Company’s ability to execute such strategies, the Company’s ability to advance and unlock the value of the Addana Project and other exploration assets, the expected contributions of management and technical personnel, the Amendment of the Warrants 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 Exchange and applicable Canadian securities regulators. 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.