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Treasury Announces Closing of C$2.8 Million Bought Deal Private Placement
Treasury Announces Closing of C$2.8 Million Bought Deal Private Placement Canada N...
About this update from Nexgold Mining Corp.
[{"type":"text","content":"\n\n\n\nTreasury Announces Closing of C$2.8 Million Bought Deal Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 21, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\nTSX: TML\n TORONTO, Nov. 21, 2019 /CNW/ - Treasury Metals Inc. (\"Treasury\" or the \"Company\") (TSX: TML) is pleased to announce that it has closed the previously announced bought deal private placement (the \"Offering\"), led by PI Financial Corp. including Haywood Securities Ltd. (collectively, the \"Underwriters\"), and that the over-allotment option granted to the Underwriters was exercised in full. \nPursuant to the Offering, the Company issued 9,807,800 flow-through units (the \"Flow-Through Units\"), at a price per Flow-Through Unit of $0.285 (the \"Issue Price\"), for gross proceeds of C$2,795,223. \nEach Flow-Through Unit is comprised of one common share of the Company issued on a flow-through basis (a \"Flow-Through Share\") and one-half of one common share purchase warrant issued on a non-flow-through basis (each whole such warrant, a \"Warrant\"). Each whole Warrant entitles the holder thereof to acquire one common share of the Company (a \"Common Share\") at a price of $0.45 for a period of 24 months following the closing of the Offering (the \"Expiry Date\"), which, at the discretion of the Company, may be subject to acceleration in the event that the closing price of the Common Shares is $0.75 or more for 20 consecutive trading days, to a date that is 30 days following the date of delivery of the Company's notice to exercise its right to accelerate the Expiry Date via press release. The Flow-Through Shares qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada).\nThe gross proceeds from the sale of the Flow-Through Shares will be used for general exploration expenditures on Treasury's properties located in Ontario. The exploration program will fund approximately 10,000-metre infill and expan...