Treasury Metals Closes $5 Million Equity Financing
Treasury Metals Closes $5 Million Equity
Financing
/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TSX:TML
TORONTO, June 25, 2018 /CNW/ - Treasury Metals Inc. (TSX: TML
"Treasury Metals" or the "Company") is pleased to announce it has
closed a non-brokered private placement financing on June 25, 2018
(the "Offering"). The Company issued 11,904,762 units (the "Units")
at a price of CAD$0.42 per Unit for total gross proceeds of CAD$5
million.
Each Unit is comprised of one (1) common share in the capital of the
Company (each a "Common Share") and one Common Share
purchase warrant (each a "Warrant") with each Warrant being
exercisable for a period of 60 months after the closing of the Offering
to acquire one (1) additional Common Share ("Warrant Share") at a
purchase price of CAD$0.60 per Warrant Share.
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 securities issued pursuant to the Offering are subject to a
statutory four-month hold period which will expire on October 26,
2018.
The securities issued pursuant to the Offering 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 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.
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 tonne 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/June2018/25/c6158.html
%SEDAR: 00027114E
For further information: Chris Stewart, President and CEO, T:
1.416.214.4654, [email protected]; Greg Ferron, Vice
President, Corporate Development, T: 1.416.214.4654,
CO: Treasury Metals Inc.
CNW 07:30e 25-JUN-18