Treasury Metals Announces Financing with RMB Resources Inc.

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[{"type":"text","content":"\n\n\nTSX: TML\n\n\nTORONTO, Nov. 15, 2013 /CNW/ - Treasury Metals Inc. is pleased to\n announce it has entered into an mandate with and subsequently received\n In-Principle Approval from RMB Resources Inc. (\"RMB\"), to arrange and\n provide a $6,000,000 Feasibility Finance Facility (the \"Facility\") by\n the lender, RMB Australia Holdings Limited.\n\n\nRMB is the resource merchant banking division of the FirstRand Group.\n Concurrent to the RMB financing, the Company will undertake to complete\n a private placement of common shares for $2.5 million. The combined\n financing will provide sufficient capital to fund the remaining\n technical program required to complete a bankable feasibility study and\n the mine permitting for Treasury's flagship Goliath Gold Project,\n located in northwestern Ontario.\n\n\n\"We are pleased to add RMB Resource, a strong partner with a wealth of\n mining knowledge and experience, to the Goliath Gold Project,\" stated\n Martin Walter, Treasury's President and Chief Executive Officer. \"This\n financing is a further endorsement of the project and reduces financing\n risk for our shareholders. The transaction provides Treasury with the\n necessary financial resources to accelerate and complete the important\n Feasibility Study stage, an exciting time as we transition towards\n becoming one of Canada's next gold producers.\"\n\n\nKey terms of the Facility are as follows:\n\n\n\n$6,000,000 Secured, Medium Term Facility of which an initial $3 million\n will be available on closing and a second tranche of $3 million will be\n available upon completion of specified project milestones;\n\n\nA Facility term of 2.5 years at CDOR plus 7.5% per annum;\n\n\nPre-payment at any time without penalty;\n\n\n1.5 million financier warrants, to be issued on the closing date, which\n will entitle RMB, for a period of 3.5 years, to purchase a  common\n share of Treasury at an exercise price equal to a 15% premium to the\n 20-day volume weighted average price (VWAP) on the closing date capped\n at $0.55 per share. A second set of 1.5 million financing warrants will\n be issued at the drawdown of the second $3 million of the Facility.\n These warrants will be priced at 15% premium at the time of the\n drawdown notice up to an exercise price of $0.80, at which point the\n exercise price will be calculated using 0% pr...

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