Treasury Metals Announces Closing of Private Placement Financing
Treasury Metals Announces Closing of Private
Placement Financing
TSX: TML
OTCQX: TSRMF
TORONTO
,
Nov. 8, 2021
/CNW/ -
Treasury Metals Inc.
(
TSX: TML
)
(OTCQX: TSRMF)
("
Treasury
" or the "
Company
") is pleased to report that it closed its previously announced private
placement financing ("the
Offering"
) on
Friday November 5, 2021
, raising gross proceeds of
approximately
$6.5 million
through the issuance of 7.7 million common shares (the "
FT Shares
") that
qualify as "flow-through shares" for the purposes of the
Income Tax Act (
Canada
)
(the "
ITA
").
The gross proceeds raised from 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 ITA.
The FT Shares issued under the Offering are subject to a hold period of four months and one day
from the date hereof in accordance with applicable Canadian securities laws.
Closing of the Offering remains subject to certain regulatory approvals including the final approval of
the Toronto Stock Exchange (the "
TSX
").
The securities referred to in this news release have not been, nor will they be, registered
under the United States Securities Act of 1933, as amended, and may not be offered or sold
within
the United States
or to, or for the account or benefit of, U.S. persons absent U.S.
registration or an applicable exemption from the U.S. registration requirements. This news
release does not constitute an offer for sale of securities, nor a solicitation for offers to buy
any securities. Any public offering of securities in
the United States
must be made by means
of a prospectus containing detailed information about the Company and management, as
well as financial statements.
To view further details about the Goliath Gold Complex projects, please visit the Company's website
at
www.treasurymetals.com
.
About Treasury Metals Inc.
Treasury Metals Inc. is a gold focused company with assets in Canada. Treasury's Goliath Gold
Complex ("
GGC
"), which includes the Goliath, Goldlund and Miller projects, is located
in Northwestern Ontario. The GGC projects 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.
Forward-Looking Statements
Certain information set forth in this news release contains "forward-looking statements", and
"forward-looking information under applicable securities laws. Except for statements of historical
fact, certain information contained herein constitutes forward-looking statements, which include the
use of proceeds of the Offering by the Company, hold periods of the FT Shares and the approval of
the Offering by the TSX. Some of the forward-looking statements may be identified by the use of
conditional or future tenses or by the use of such words such as "will", "expects", "may", "should",
"estimates", "anticipates", "believes", "projects", "plans", and similar expressions, including variations
thereof and negative forms. These statements are not guarantees of future performance and undue
reliance should not be placed on them.
Such forward-looking statements necessarily involve known and unknown risks and uncertainties,
which may cause the Company's actual performance and financial results in future periods to differ
materially from any projections of future performance or results expressed or implied by such
forward-looking statements. These risks and uncertainties include, but are not limited to: difficulties
in identifying and retaining a primary contractor to lead the Goliath Gold Complex pre-feasibility
study work, general business and economic conditions, changes in world gold markets, sufficient
labor and equipment being available, changes in laws and permitting requirements, unanticipated
weather changes, title disputes and claims, execution of management's strategy with respect to the
proceeds raised from the Offering, environmental risks as well as those risks identified in the
Company's Annual Information Form and its most recent Management Discussion and analysis, both
available on sedar.com
There can be no assurance that forward-looking statements will prove to be accurate, and actual
results and future events could differ materially from those anticipated in such statements. The
Company undertakes no obligation to update forward-looking statements if circumstances or
management's estimates or opinions should change except as required by applicable securities
laws. The reader is cautioned not to place undue reliance on forward-looking statements. The
Company disclaims any intention or obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise, except to the extent required by
securities legislation.
SOURCE
Treasury Metals Inc.
View original content:
http://www.newswire.ca/en/releases/archive/November2021/08/c1231.html
%SEDAR: 00027114E
For further information:
Jeremy Wyeth, President and CEO, T: +1 416 214 4654; Orin
Baranowsky, CFO, T: +1 416 214 4654; Email: [email protected], Twitter
@TreasuryMetals
CO: Treasury Metals Inc.
CNW 07:25e 08-NOV-21