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Treasury Metals Closes $5 Million Equity Financing

News Provided by PR Newswire2018-06-25
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Treasury Metals Closes $5 Million Equity Financing

 
[25-June-2018]
 

/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.


Company Codes: OTC-QX:TSRMF, Toronto:TML


© 2018 PR Newswire. All Rights Reserved.

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The news, reports, views and opinions of authors (or source) expressed are their own and do not necessarily represent the views of CRWE World.


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