Business
Treasury Metals Announces Proposed Flow-Through Private Placement Offering for $1.41 Million
Treasury Metals Announces Proposed Flow-Through Private Placement Offering for $1.41 Million ...
About this update from Nexgold Mining Corp.
[{"type":"text","content":"\n \n \n \n Treasury Metals Announces Proposed Flow-Through Private Placement Offering for $1.41 Million\n \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.prntal{\nTEXT-ALIGN: LEFT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TSX: TML       OTCQX: TSRMF\n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n May 11, 2023\n \n \n /CNW/\n \n - Treasury Metals Inc.\n \n (TSX: TML) (OTCQX: TSRMF) (\"\n \n Treasury\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it proposes to complete a non-brokered private placement consisting of approximately 3.12 million  flow-through common shares (\"\n \n FT Shares\n \n \") in the capital of the Company at a price of\n \n $0.452\n \n per FT Share for aggregate gross proceeds of approximately\n \n $1.41 million\n \n (the \"\n \n Offering\n \n \"). The FT Shares will be issued as \"flow-through shares\" with respect to \"Canadian exploration expenses\" within the meaning of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ).\n \n \n It is expected that the gross proceeds from the Offering will be used by the Company to incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through mining expenditures\" (as such terms are defined in the\n \n Income Tax Act\n \n (\n \n Canada\n \n )) and \"eligible\n \n Ontario\n \n exploration expenditures\" as defined in subsection 103(4) of the\n \n Taxation Act\n \n , 2007 (\n \n Ontario\n \n ) (the \"\n \n Qualifying Expenditures\n \n \") related to the Company's projects. All Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Shares effective no later than\n \n December 31, 2023\n \n .\n \n \n There can be no assurance as to whether or when the Offering may be completed, or as to the actual final size of the Offering. The Offering is expected to close on or about\n \n June 1, 2023\n \n , or such other date as determined by the Compa...