Treasury Metals Announces Closing of Private Placement Financing
Treasury Metals Announces Closing of Private
Placement Financing
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
TSX: TML OTCQX: TSRMF
TORONTO
,
June 1, 2023
/CNW/ -
Treasury Metals Inc.
(TSX: TML) (OTCQX: TSRMF)
("
Treasury
" or the "
Company
") is pleased to announce that it has closed its previously announced
non-brokered private placement (the "
Offering
"), raising gross proceeds of approximately
$1.41
million
through the issuance of 3.11 million common shares ("
FT Shares
") at a price of
$0.452
per
FT Share which qualify as "flow-through shares" with respect to "Canadian exploration expenses"
within the meaning 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 related to the Company's projects that qualify as "Canadian exploration expenses" and
"flow-through mining expenditures" (as those terms are defined in the ITA) (the "
Qualifying
Expenditures
"). All Qualifying Expenditures will be renounced in favour of the subscribers of the FT
Shares effective no later than
December 31, 2023
.
The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary
approvals, including the approval of the Toronto Stock Exchange and any applicable securities
regulatory authorities. All securities issued in connection with the Offering will be subject to a four-
month and one day hold period in accordance with applicable Canadian securities laws.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in
the United States
, nor shall there be any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities to be offered have not been and will not be
registered under the
United States Securities Act of 1933
, as amended,
U.S. Securities Act
or under
any U.S. state securities laws, and may not be offered or sold in
the United States
or to, or for the
account or benefit of, U.S. persons, absent registration or an applicable exemption from the
registration requirements of the U.S. Securities Act and applicable state securities laws.
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
Weebigee-Sandy Lake Gold Project JV, and grassroots gold exploration property Gold Rock.
Treasury 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.
To view further details about Treasury, please visit the Company's website at
www.treasurymetals.com
.
Cautionary Note Regarding Forward-Looking Information
This news release includes certain "forward-looking information" and "forward-looking statements"
(collectively, forward-looking statements") within the meaning of Canadian and
United States
securities legislation that is based on expectations, estimates, projections and interpretations as at
the date of this news release. Any statement that involves predictions, expectations, interpretations,
beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not
always, using phrases such as "expects", or "does not expect", "is expected", "interpreted",
"management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled",
"forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words
and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or
"will" be taken to occur or be achieved) are not statements of historical fact and may be forward-
looking information and are intended to identify forward-looking information.
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. 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:
http://www.newswire.ca/en/releases/archive/June2023/01/c8953.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], Twitter @TreasuryMetals, Toll-free: 1-
855-664-4654
CO: Treasury Metals Inc.
CNW 17:00e 01-JUN-23