TSX: TML
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES
TORONTO, May 15, 2017 /CNW/ - Treasury Metals Inc.
(TSX: TML "Treasury Metals" or the "Company") is
pleased to announce that it has completed its previously announced
short form prospectus offering of 12,400,000 units of the Company
(the "Units"), at a price of $0.65 per Unit, for gross proceeds of
$8.06 million (the
"Offering"). The Offering was co-led by Haywood Securities
Inc. and PI Financial Corp. and included Canaccord Genuity
Corp.
Each Unit sold under the Offering consisted of one common share
(a "Common Share") of the Company and one half of one Common
Share purchase warrant (each whole Common Share purchase warrant, a
"Warrant"). Each Warrant will entitle its holder to acquire
one Common Share at an exercise price of $0.95 for a period of 24 months from the date of
issuance.
The net proceeds of the Offering will be used to fund the
advancement of the Company's Goliath Gold Project, and for working
capital and general corporate purposes.
The Units issued under the Offering were offered by way of a
short form prospectus in the provinces of British Columbia, Alberta and Ontario. Copies of the final short form
prospectus dated May 10, 2017 and
documents incorporated therein are available electronically under
Company's profile on SEDAR at www.sedar.com.
The Units, Common Shares and Warrants, as well as Common Shares
issuable upon exercise of the Warrants, have not and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any securities or
"blue sky" laws of any of the states of the United States. Accordingly, such
securities may not be offered or sold within the United States except in accordance with an
exemption from the registration requirements of the U.S. Securities
Act and applicable state securities laws. This press release does
not constitute an offer to sell or the solicitation of an offer to
buy securities in the United
States, nor in any other jurisdiction.
To view further details about the Goliath Gold Project or
Treasury Metals, please visit the Company's website at
www.treasurymetals.com.
About Treasury Metals Inc.:
Treasury Metals is a gold focused exploration and development
company with assets in Ontario,
Canada and is listed on the Toronto Stock Exchange ("TSX")
under the symbol "TML". Treasury Metals Inc.'s 100% owned Goliath
Gold Project in northwestern Ontario is slated to become one of
Canada's next producing gold
mines. With first-rate infrastructure currently in place and gold
mineralization extending to surface, Treasury Metals plans on the
initial development of an open pit gold mine to feed a 2,500 per
day processing plant with subsequent underground operations in the
latter years of the mine life. Treasury Metals is currently in the
mine permit process on the Goliath Gold Project.
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.