TSX: TML
TORONTO, Nov. 24, 2014 /CNW/ - Treasury Metals Inc.
(TSX:TML) is pleased to announce that it has satisfied all
conditions precedent of RMB Resources' continued funding of the
Company's Goliath Gold Project in Northwestern Ontario. The conditions precedent
related to the second tranche included updated mine plan,
engineering and a newly modelled resource work. The second tranche
provides the Company the ability to access an additional
$3 million in funds for further mine
permitting and feasibility studies ongoing at the project.
"We are pleased to have the continued support
and partnership of RMB: a global leader in mine finance" stated
Martin Walter, Treasury's President
and Chief Executive Officer. "In addition, an exploration program
is underway at the project that will allow us to finalize
definition drilling of the main resource area identified in the new
model review and further testing of the recent discoveries
made."
For consideration of the second tranche, RMB has
been issued 1.5 million financier warrants, which entitles RMB to
purchase a common share of the Company at an exercise price of
$0.35 for a period of 3.5 years.
Additional terms related to the C$6
million feasibility funding facility entered between the
Company and RMB were previously announced on November 15, December 4,
2013 and February 19,
2014.
ABOUT RMB RESOURCES
RMB Resources is the resource financing division of the
FirstRand Group; one of the largest listed financial services
companies listed on the Johannesburg Stock Exchange, South Africa. RMB specializes in providing
equity and debt-financing solutions for small to mid-tier resource
companies globally. RMB Resources provides debt funding through
conventional project financing, commodity pre-paid forward
financing as well as senior, subordinated, standby and bridge
financing. Staffed with experienced mining executives, RMB
Resources operates from its offices in Sydney, Melbourne, London, Johannesburg, Denver and New
York.
ABOUT TREASURY METALS
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 with the vision of a combination of an open pit and
underground mining methods. Established in 2008, Treasury Metals
operates corporate headquarters in Toronto and a project office at the Goliath
Gold Project.
To learn more about Treasury Metals, please visit the Company's
website at www.treasurymetals.com.
Forward-looking Statements
This release includes certain statements that may be deemed to be
"forward-looking statements". All statements in this release,
other than statements of historical facts, that address events or
developments that management of the Company expect, are
forward-looking statements. Actual results or developments may
differ materially from those in 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.