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Treasury Metals Closes US$4.4 Million Loan Transaction with Loinette Leasing and Extract Capital
Treasury Metals Closes US$4.4 Million Loan Transaction with Loinette Leasing and Extract C...
About this update from Nexgold Mining Corp.
[{"type":"text","content":"\n\n\n\nTreasury Metals Closes US$4.4 Million Loan Transaction with Loinette Leasing and Extract Capital\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\nTreasury Metals Closes US$4.4 Million Loan Transaction with Loinette Leasing and Extract Capital\nCanada NewsWire\nTORONTO, June 20, 2016\n\n\n\nTSX: TML \n\n\n\nTORONTO, June 20, 2016 /CNW/ - Treasury Metals Inc. (\"Treasury\" or the \"Company\") is pleased to announce it has closed the previously announced Term Loan for US$4.4 million (approx. CAD$5.68 million) with Extract Advisors LLC acting as Agent with Loinette Leasing Company Ltd. and Extract Capital Master Fund Ltd as lenders (the \"Lenders\").  \n\nConcurrently, Treasury has repaid in full the existing loan facility with RMB Australia Holdings Limited (\"RMB\") due on June 20, 2016, in respect of which CAD$5.0 million (approx. US$3.87 million) was outstanding. The additional proceeds from the transaction combined with the CAD$4.0 million equity financing, which closed on May 18, 2016, will be used to further advance the project's mine permitting, engineering studies and exploration on the Goliath Gold Project.  \n\n\"We are pleased to have completed this transaction with both Extract and Loinette and we see them as value added partners as we continue to advance the Goliath Gold Project towards production,\" stated Marc Henderson, Treasury Metals, Chairman of the Board. \n\nThe terms related to the Term Loan were as set out in a press release on March 31, 2016 (including the conversion price for the US$2.2 million convertible portion of the loan, fixed at $0.588 per share, representing a 25% premium above the five-day volume weighted average price from entering into the binding term sheet).  \n\nIn conjunction with this transaction, the Lenders were assigned the existing RMB common share purchase warrants which consisted of an aggregate of 1,500,000 warrants exercisable until August 18, 2017 at an exercise price of $0.395 per common share and a second series of 1,500,000 warrants exercisable until May 18, 2018 at an exercise price o...