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Treasury Metals Closes Over-Subscribed $11.5 Million Bought Deal Financing
Treasury Metals Closes Over-Subscribed $11.5 Million Bought Deal Financing Canada ...
About this update from Nexgold Mining Corp.
[{"type":"text","content":"\n\n\n\nTreasury Metals Closes Over-Subscribed $11.5 Million Bought Deal Financing\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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, July 7, 2020\n\n\n\nTSX: TMLOTCQX: TSRMF\n TORONTO, July 7, 2020 /CNW/ - Treasury Metals Inc. (TSX: TML) (\"Treasury\" or the \"Company\") is pleased to announce that the Company has closed a $11.52 million bought deal private placement (the \"Offering\") of 32,000,000 subscription receipts (the \"Subscription Receipts\") at a price of $0.36 per Subscription Receipt (the \"Issue Price\").  The Offering was led by Haywood Securities Inc., and included PI Financial Corp., Sprott Capital Partners LP, and Canaccord Genuity Corp. (collectively, the \"Underwriters\"). \nGreg Ferron, CEO of Treasury, stated: \"Completion of this financing comes at a transformational time for shareholders as we positively integrate the Goldlund gold project into our development timeline. The proceeds from the financing will fund the completion of a combined Goliath-Goldlund economic study expected within 2020, advance key engineering and environmental baseline data on Goldlund, and complete 25,000 metres of infill and expansion drilling program on the combined projects.\"\nThe Offering was completed in connection with the Company's previously announced transaction (the Transaction\") wherein Treasury will acquire all of the outstanding common shares of Tamaka Gold Corporation, a wholly owned subsidiary of First Mining Gold Corp., which holds a 100% interest in the Goldlund Gold Project (\"Goldlund\"), located immediately adjacent to Treasury's Goliath Gold Project (\"Goliath\") in Northwestern Ontario. Please refer to the Company's press release dated June 3, 2020 for further information regarding the Transaction. It is currently anticipated that the Transaction will close in early August. \nThe Subscription Receipts were issued pursuant to a subscription receipt agreement (the \"Subscription Receipt Agreement\") entered into by the Company, the Underwriters, and TSX Trust Company as subscription receipt agent. Pursuant to the Subscri...