Business
Treasury Metals Closes Equity Financing and Enters Into Facility Agreement With RMB Resources Inc.
TSX: TML TORONTO , Dec. 20, 2013 /CNW/ - Treasury Metals Inc. ("Treasury Metals" o...
About this update from Nexgold Mining Corp.
[{"type":"text","content":"\n\n\nTSX: TML\n\n\nTORONTO, Dec. 20, 2013 /CNW/ - Treasury Metals Inc. (\"Treasury Metals\"\n or the \"Company\") (TSX:TML) is pleased to announce that it has closed\n its previously announced brokered placement of flow-through common\n shares (\"Flow-Through Shares\") (see the news release dated December 4\n and 18, 2013, respectively). 8,315,500 Flow-Through Shares were sold at\n an issue price of $0.40 per Flow-Through Share for aggregate gross\n proceeds of $3,326,200 (the \"Offering\"). The Offering was completed by\n a syndicate of agents led by Secutor Capital Management Corporation and\n included Canaccord Genuity Corp.\n\n\nIn consideration for the services of the agents in connection with the\n Offering the Company has paid a cash commission equal to 7% of the\n gross proceeds received from the sale of the Flow-Through Shares and\n has issued an aggregate of 201,250 non-transferrable broker warrants,\n with each broker warrant being exercisable to acquire one common share\n of the Company at a price of $0.50 per share for a period of 24 months\n from the closing of the Offering.\n\n\nTreasury Metals intends to use the net proceeds of the Offering for the\n advancement of the Company's Goliath Gold Project as well as for\n general working capital purposes.\n\n\nThe Flow-Through Shares issued pursuant to the Offering will be subject\n to a four-month hold period under applicable securities laws in Canada.\n\n\nA material change report in connection with the Offering will be filed\n less than 21 days before closing of the Offering. This shorter period\n is reasonable and necessary in the circumstances as the Company wished\n to complete the Offering in a timely manner.\n\n\nThe facility agreement (the \"Facility Agreement\") with RMB Resources\n Inc. (\"RMB\") that was previously announced on November 15 and December\n 4, 2013 has been executed today between the Company and RMB. The\n feasibility funding facility (the \"Facility\") granted to the Company\n under the Facility Agreement is expected to be drawn in January 2014\n once all conditions precedent are satisfied. RMB issued final approval\n of its mandate to arrange for and provide the Facility on December 4,\n 2013.\n\n\n\"We are pleased to see such strong retail investor interest and\n participation by a number of new and existing institutional investors\n in th...