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Treasury Metals Announces Exercise of Over-Allotment Option and Private Placement Increased to $4,000,000
Treasury Metals Announces Exercise of Over-Allotment Option and Private Placement Increase...
About this update from Nexgold Mining Corp.
[{"type":"text","content":"\n\n\n\nTreasury Metals Announces Exercise of Over-Allotment Option and Private Placement Increased to $4,000,000\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\nTreasury Metals Announces Exercise of Over-Allotment Option and Private Placement Increased to $4,000,000\nCanada NewsWire\nTORONTO, May 5, 2016\n\n\n\nTSX: TML\n\n\n\nTORONTO, May 5, 2016 /CNW/ - Treasury Metals Inc. (\"Treasury Metals\" or the \"Company\") is pleased to announce  Haywood Securities Inc., the agent for the Company's previously announced brokered private placement financing of up to 4,200,000 units of the Company (\"Units\") at price of C$0.48 per Unit (the \"Brokered Offering\"), has elected to exercise their over-allotment option in full to sell up to an additional 2,100,000 Units, raising additional proceeds of up to $1.0 million, resulting in a revision to the total proceeds raised under the Offering of up to $3.0 million (the \"Final Brokered Offering\"). \n\nIn addition, the Company has agreed to sell, on a non-brokered basis, an additional 2,083,333 Units to a strategic financial investor (the \"Non-Brokered Offering\") for additional gross proceeds to the Company of $1 million, resulting in total gross proceeds to be raised under the Final Brokered Offering and the Non-Brokered Offering (collectively, the \"Combined Offering\") of up to $4.0 million.\n\nEach Unit sold under the Final Brokered Offering and the Non-Brokered Offering shall consist of one common share of the Company and one half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall be exercisable into one common share of the Company at an exercise price of $0.70 for a period of 24 months from the date of issuance.  \n\nThe net proceeds of the Combined Offering will be used to fund technical programs and mine permitting  of the Company's Goliath Gold Project and for working capital and general corporate purposes. \n\nClosing of the Combined Offering is anticipated to occur on or about May 18, 2016 (the \"Closing Date\"). Closing of each of ...