TSX: TML
TORONTO,
Dec. 18, 2013 /CNW/ - Treasury Metals
("Treasury Metals" or the "Company") is pleased to announce that it
has increased the size of its brokered placement of flow-through
common shares ("Flow-Through Shares"), initially announced on
December 4, 2013, from $2.5 million in aggregate gross proceeds to
$3.35 million in aggregate gross
proceeds which includes the Agents option (the "Offering"). As
previously indicated, the Offering is comprised of Flow-Through
Shares, at an issue price of $0.40
per Flow-Through Share, led by Secutor Capital Management
Corporation with a syndicate of agents including Canaccord Genuity
Corp. All other terms and conditions of the Offering remain the
same.
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 20, 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.
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.