Treasury Metals Announces Bought Deal, Unit and Flow-Through Private Placement
12 Settembre 2012 - 10:50PM
PR Newswire (Canada)
/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. NEWSWIRE
SERVICES/ TORONTO, Sept. 12, 2012 /CNW/ - ("Treasury Metals" or the
"Company") is pleased to announce that it has entered into an
agreement with Canaccord Genuity Corp. ("Canaccord"), pursuant to
which a syndicate of underwriters led by Canaccord (the
"Underwriters") will purchase, in any combination, units of the
Company ("Units") at a price of $0.75 per Unit and a minimum of
$2.0 million in flow-through common shares of the Company
("Flow-Through Shares") at a price of $0.80 per Flow-Through Share
to raise aggregate gross proceeds of $3.0 million (the
"Underwritten Offering"). Each Unit shall consist of one common
share in the Company and one half of one common share purchase
warrant of the Company exercisable for a period of 24 months from
the closing date. Each whole warrant shall be exercisable into one
common share of the Company at $1.00 per share. In addition, the
Company will grant the Underwriter an option to sell additional
units (the "Over-Allotment Units") or flow-through common shares
(the "Over-Allotment Flow-Through Shares") of the Company, in any
combination of Over-Allotment Units or Over-Allotment Flow-Through
Shares (and together with the Units and Flow-Through Shares, the
"Offered Securities"), to raise additional gross proceeds of up to
$2.0 million (the "Over-Allotment Option" and together with the
Underwritten Offering, the "Offering"). The net proceeds raised
through the Offering will be for the advancement of the Company's
assets and for general working capital purposes. Closing of the
Offering is anticipated to occur on or about September 21, 2012
(the "Closing Date"). Closing of the Offering is subject to receipt
of regulatory approvals, including the acceptance of the Offering
by the Toronto Stock Exchange. The Offered Securities will be
subject to a four month hold period under applicable securities
laws in Canada. In consideration of the Underwriters' services, the
Company has agreed to pay the Underwriters a cash commission of
6.0% of the gross proceeds raised under the Offering. The
Underwriters will also receive broker warrants (the "Broker
Warrants") exercisable at any time from the Closing Date to the day
prior to the date that is 24 months from the Closing Date to
acquire that number of common shares of the Company which is equal
to 6.0% of the aggregate number of Offered Securities issued
pursuant to the Offering. This news release does not constitute an
offer to sell or a solicitation of an offer to buy the securities
described herein in the United States. The securities described
herein have not been and will not be registered under the United
States Securities Act of 1933, as amended, and may not be offered
or sold in the United States or to the account or benefit of a U.S.
person absent an exemption from the registration requirements of
such Act. Forward Looking Statements This press release contains
forward-looking statements such as the expected use of the net
proceeds from the private placement, our future financial
condition, business plans and objectives, results of operations and
business. Such statements are based on operations, estimates,
forecasts and projections. They are not guarantees of future
performance or events and involve risks and uncertainties that are
difficult to predict and may be beyond Treasury Metals' control. A
number of important factors could cause actual outcomes and results
to differ materially from those expressed in forward-looking
statements, including those set forth herein and in other public
filings. In addition, such statements relate to the date on which
they are made. Consequently, undue reliance should not be placed on
such forward-looking statements. Treasury Metals disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, save and except as may be required by applicable
securities laws. Treasury Metals Inc. CONTACT: To learn more about
Treasury Metals, please visit the Company'swebsiteat
www.treasurymetals.com.Greg FerronVice President, Corporate
DevelopmentT: 1.416.214.4654greg@treasurymetals.comMartin
WalterPresident and CEOT: 1.416.214.4654martin@treasurymetals.com
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