TSX:TML
TORONTO, Jan. 13, 2016 /CNW/ - Treasury Metals Inc.
(TSX:TML) ("Treasury Metals" or, the "Company") is pleased to
announce that it has closed a final tranche of C$502,500 of units ("Units") in a non-brokered
private placement (the "Final Closing"). The additional units
combined with the C$497,500 that
closed on December 29, 2015, total
aggregate gross proceeds of C$1
million (the "Final Closing" and, collectively with the
First Closing, the "Offering"). The Offering consists of the
issuance by the Company of 1,903,572 units of the Company at a
price of C$0.35 per Unit, for
aggregate gross proceeds of C$666,250
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.
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.
"Having completed this financing, the Company will continue to
advance technical programs and mine permitting at our flagship
Goliath Gold Project," said Martin
Walter, President and Chief Executive Officer. We were
pleased to see primarily new investors participate in the offering
and institutional participation."
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.
All of the common shares and Warrants comprising the Units, and
any common shares issued upon due exercise of the Warrants with
respect to the Offering 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.
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.