Treasury Metals Announces $6 Million Flow- Through Financing
Treasury Metals Announces $6 Million Flow-
Through Financing
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWS WIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
TSX: TML OTCQX: TSRMF
TORONTO
,
Oct. 21, 2021
/CNW/ -
Treasury Metals Inc.
(TSX: TML) (OTCQX: TSRMF)
("
Treasury
" or the "
Company
") is pleased to announce that it intends to complete a flow-through
financing by way of a non-brokered private placement for aggregate proceeds of approximately
$6.0
million
(the "
Offering
"). The Offering will consist of 7,058,900 common shares of the Company (the
"
Flow-Through Shares
") that qualify as flow-through shares for purposes of the
Income Tax Act
(
Canada
)
at a price of
$0.85
per Flow-Through Share.
The gross proceeds raised from the sale of the Offering will be used by the Company to fund
exploration programs that qualify as "Canadian Exploration Expenses" and "flow-through mining
expenditures", as those terms are defined in the
Income Tax Act (
Canada
).
The closing of the Offering is expected to occur on or before
November 5, 2021
(the "
Closing
Date
") and is subject to the completion of formal documentation and receipt of all applicable
regulatory approvals, including the approval of the Toronto Stock Exchange. The Flow-Through
Shares to be issued under the Offering will be subject to a statutory hold period of four months and
one day from the Closing Date.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in
the United States
. The securities have not been and will not be registered under the
United States Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within
the United States
or to U.S. Persons (as such term is defined in
Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is available.
About Treasury Metals Inc.
Treasury Metals Inc. is a gold focused company with assets in
Canada
. Treasury's Goliath Gold
Complex, which includes the Goliath, Goldlund and Miller deposits, is located in
Northwestern
Ontario
. The deposits benefit substantially from excellent access to the Trans-Canada Highway,
related power and rail infrastructure, and close proximity to several communities including
Dryden,
Ontario
. The Company also owns several other projects throughout
Canada
, including the Lara
Polymetallic Project, Weebigee-Sandy Lake Gold Project JV, and grassroots gold exploration
property Gold Rock. Treasury Metals is committed to inclusive, informed and meaningful dialogue
with regional communities and Indigenous Nations throughout the life of all our Projects and on all
aspects, including: creating sustainable economic opportunities, providing safe workplaces,
enhancing of social value, and promoting community well-being.
For information on the Goliath Gold Complex, please refer to the preliminary economic assessment,
prepared in accordance with NI 43–101, entitled "NI 43–101 Technical Report & Preliminary
Economic Assessment of the Goliath Gold Complex: and dated
March 10, 2021
with an effective
date of
January 28, 2021
, led by independent consultants Ausenco Engineering Canada Inc. The
technical report is available on SEDAR at
www.sedar.com
, on the OTCQX at
www.otcmarkets.com
and on the Company website at
www.treasurymetals.com
.
To view further details about Treasury, please visit the Company's website at
www.treasurymetals.com
.
@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, including,
but not limited to, the terms of the Offering, the use of proceeds of the Offering, the timing and
ability of the Company to close the Offering and the timing and ability of the Company to receive
necessary regulatory approvals. Forward-looking statements are frequently, but not always,
identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends",
"estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations
thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved, or the negative of any of these terms and similar expressions. Actual
results or developments may differ materially from those in forward-looking statements. Treasury
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.
Since forward-looking information address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include, but are not limited to, exploration
and production for precious metals; delays or changes in plans with respect to exploration or
development projects or capital expenditures; the uncertainty of resource estimates; health, safety
and environmental risks; worldwide demand for gold and base metals; gold price and other
commodity price and exchange rate fluctuations; environmental risks; competition; incorrect
assessment of the value of acquisitions; ability to access sufficient capital from internal and
external sources; and changes in legislation, including but not limited to tax laws, royalties and
environmental regulations, as well as those risk factors outlined in the Company's Annual
Information Form for the year ended
December 31, 2020
available on SEDAR at
www.sedar.com
.
Actual results, performance or achievement could differ materially from those expressed in, or
implied by, the forward-looking information and, accordingly, no assurance can be given that any
of the events anticipated by the forward-looking information will transpire or occur, or if any of
them do so, what benefits may be derived therefrom and accordingly, readers are cautioned not to
place undue reliance on the forward-looking information.
SOURCE
Treasury Metals Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/October2021/21/c4407.html
%SEDAR: 00027114E
For further information:
Jeremy Wyeth, President & CEO, T: +1 416 214 4654; Orin Baranowsky,
CFO, T: +1 416 214 4654, Email: [email protected]
CO: Treasury Metals Inc.
CNW 07:30e 21-OCT-21