Treasury Metals Closes $2 Million Financing
Treasury Metals Closes $2 Million Financing
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWS WIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
TSX:TML
TORONTO
,
Dec. 17, 2018
/CNW/ -
Treasury Metals Inc.
(TSX: TML "
Treasury Metals
" or the
"
Company
") is pleased to announce that it has closed a non-brokered private placement financing
on
December 17, 2018
(the "
Offering
"). The Company issued 7,682,075 flow-through common
shares ("
Flow-Through Shares
") for total gross proceeds of
$2,074,160
at an issue price of
$0.27
per Flow-Through Share.
The gross proceeds will be used to continue to advance exploration and development activities at
the Company's Goliath Gold Project located in northwestern
Ontario
.
The Flow-Through Shares are subject to a four-month hold period.
The proceeds from the issuance of Flow-Through Shares will be used to incur Canadian Exploration
Expenses ("
CEE
"), and will qualify as "flow-through mining expenditures" under the Income Tax Act
(
Canada
), which will be renounced with an effective date no later than
December 31, 2018
to the
purchasers of Flow-Through Shares in an aggregate amount no less than the proceeds raised from
the issue of the Flow-Through Shares.
To view further details about the Goliath Gold Project, 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.
View original content:
http://www.newswire.ca/en/releases/archive/December2018/17/c1521.html
%SEDAR: 00027114E
For further information:
Greg Ferron, Interim CEO, T: 1.416.214.4654,
[email protected]; Mark Wheeler, Director, Projects, T: 1.416.214.4654,
CO: Treasury Metals Inc.
CNW 17:00e 17-DEC-18