TSX: TML
TORONTO,
Dec. 4, 2013 /CNW/ - Treasury Metals
("Treasury Metals" or the "Company") is pleased to announce that it
has entered into an agreement with Secutor Capital Management Corp.
("Secutor"), pursuant to which a syndicate of agents led by Secutor
and including Canaccord Genuity Corp. (the "Agents") will raise
aggregate gross proceeds of up to $2.5
million in flow-through common shares of the Company
("Flow-Through Shares") at a price of $0.40 per Flow-Through Share (the
"Offering").
In addition, the Company will grant the Agents
an option to sell additional Flow-Through Shares to raise
additional gross proceeds of up to $450,000 exercisable at any time before the
closing of the Offering. The net proceeds of the Offering
will be used for the advancement of the Company's Goliath Gold
Project and general working capital purposes.
Closing of the Offering is anticipated to occur
on or about December 19, 2013.
Closing of the Offering is subject to receipt of regulatory
approvals, including the acceptance of the Offering by the
Toronto Stock Exchange. The
Flow-through Shares issued pursuant to the Offering will be subject
to a four-month hold period under applicable securities laws in
Canada.
In consideration of the Agents' services, the
Company has agreed to pay the Agents a cash commission of 7.0% of
the gross proceeds raised under the Offering.
Treasury Metals is also pleased to announce it
has been notified by RMB Resources Inc. ("RMB") that RMB has
issued final approval of its mandate to arrange for and provide to
the Company a $6,000,000 Feasibility
Finance Facility by the lender, RMB Australia Holdings Limited (see
News Release November 15, 2013).
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.
About Treasury Metals Inc.:
Treasury Metals Inc. is a Toronto-based, TSX-listed mining exploration
and development company developing and permitting the Goliath Gold
Project located in Northwestern
Ontario. The Company's flagship Goliath Gold Project is a
high-grade gold resource that demonstrates strong market
fundamentals, access to excellent infrastructure and a skilled
local workforce. Treasury Metals has commenced the mine permitting
process at its solely owned project with the vision of a
combination of surface and underground mining methods and one of
four projects advanced to the permitting stage in the province.
Established in 2008, Treasury Metals operates corporate
headquarters in Toronto and a
project office at the Goliath Gold Project.
To view further details about the Goliath Gold
Project, please visit the Company's website at
www.treasurymetals.com.
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.
SOURCE Treasury Metals Inc.