|December 04, 2013|
Treasury Metals Announces Flow-Through Financing
|Toronto, Canada - Treasury Metals ("Treasury Metals" or the "Company") is pleased to announce that it has entered into an agreement with Secutor Capital Management Corp. ("Secutor"), pursuant to which a syndicate of agents led by Secutor and including Canaccord Genuity Corp. (the "Agents") will raise aggregate gross proceeds of up to $2.5 million in flow-through common shares of the Company ("Flow-Through Shares") at a price of $0.40 per Flow-Through Share (the "Offering").|
In addition, the Company will grant the Agents an option to sell additional Flow-Through Shares to raise additional gross proceeds of up to $450,000 exercisable at any time before the closing of the Offering. The net proceeds of the Offering will be used for the advancement of the Company's Goliath Gold Project and general working capital purposes.
Closing of the Offering is anticipated to occur on or about December 19, 2013. Closing of the Offering is subject to receipt of regulatory approvals, including the acceptance of the Offering by the Toronto Stock Exchange. The Flow-through Shares issued pursuant to the Offering will be subject to a four-month hold period under applicable securities laws in Canada.
In consideration of the Agents' services, the Company has agreed to pay the Agents a cash commission of 7.0% of the gross proceeds raised under the Offering.
Treasury Metals is also pleased to announce it has been notified by RMB Resources Inc. ("RMB") that RMB has issued final approval of its mandate to arrange for and provide to the Company a $6,000,000 Feasibility Finance Facility by the lender, RMB Australia Holdings Limited (see News Release November 15, 2013).
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not 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 the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.
About Treasury Metals Inc.:
Treasury Metals Inc. is a Toronto-based, TSX-listed mining exploration and development company developing and permitting the Goliath Gold Project located in Northwestern Ontario. The Company's flagship Goliath Gold Project is a high-grade gold resource that demonstrates strong market fundamentals, access to excellent infrastructure and a skilled local workforce. Treasury Metals has commenced the mine permitting process at its solely owned project with the vision of a combination of surface and underground mining methods and one of four projects advanced to the permitting stage in the province. Established in 2008, Treasury Metals operates corporate headquarters in Toronto and a project office at the Goliath Gold Project.
To view further details about the Goliath Gold Project, please visit the Company's website at www.treasurymetals.com.
Vice President, Corporate Development
President and Chief Executive Officer
This press release contains forward-looking statements such as the expected use of the net proceeds from the private placement, our future financial condition, business plans and objectives, results of operations and business. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance or events and involve risks and uncertainties that are difficult to predict and may be beyond Treasury Metals' control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth herein and in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such 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.
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