TSX:TML
TORONTO, Dec. 29, 2015 /CNW/ - Treasury Metals Inc.
(TSX:TML) ("Treasury Metals" or, the "Company") is pleased to
announce that it has closed a C$497,500 non-brokered private placement (the
"First Closing") and is scheduled to close an additional final
tranche of C$148,750 non-brokered
private placement on or about January 8,
2016 (the "Final Closing" and, collectively with the First
Closing, the "Offering"), for aggregate gross proceeds of
C$646,250. The Offering consists of
the issuance by the Company of 892,857 units ("Units") of the
Company at a price of C$0.35 per
Unit, for aggregate gross proceeds of C$312,500, and 741,667 flow-through common shares
(the "Flow-Through Shares") at a price of C$0.45 per flow-through common share, for
aggregated gross proceeds of C$333,750. The Company issued 467,857 Units and
741,667 Flow-Through Shares in the First Closing and is scheduled
to issue 425,000 Units in the Final Closing.
Each Unit consists of one common share in the capital of the
Company and one-half of one common share purchase warrant (each
whole warrant, a "Warrant") of the Company exercisable for a period
of 36 months from the closing date. Each Warrant shall be
exercisable into one common share of the Company at C$0.55 per share.
The net proceeds raised through the Offering will be for the
advancement of the Company's Goliath Gold Project and for general
working capital purposes.
The Company paid an aggregate cash finder's fee of 7% to certain
arm's length parties with respect to certain orders provided in
connection with the Offering.
The common shares and Warrants comprising the Units, and any
common shares issued upon due exercise of the Warrants will be
subject to a four-month hold period under applicable securities
laws in Canada.
To learn more about Treasury Metals, please visit the Company's
website at www.treasurymetals.com.
Follow us on Twitter @TreasuryMetals
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.