Treasury Metals Completes Final Tranche of Financing

About this update from Nexgold Mining Corp.

[{"type":"text","content":"\n\n\n\n\n\nTSX:TML\n\n\nTORONTO, May 1, 2013 /CNW/ - Treasury Metals Inc. (TSX:TML) is pleased to announce that, further to\n its news release dated April 26, 2013, it has completed the final\n tranche of a non-brokered private placement (the \"Offering\"). Including\n the first tranche, the Offering consisted of 2,638,332 units (the\n \"Units\") of the Company at a price of $0.45 per Unit and 1,194,444\n flow-through Shares (the \"Flow-Through Shares\") at a price of $0.50 per\n Flow-Through Share, for total aggregate gross proceeds of $1.78\n million.\n\n\nEach Unit consists of one common share in the Company and one half of\n one common share purchase warrant of the Company exercisable for a\n period of 36 months from the closing date. Each whole warrant shall be\n exercisable into one common share of the Company at $0.75 per share.\n\n\nThe Units and Flow-Through Shares will be subject to a four-month hold\n period under applicable securities laws in Canada.\n\n\nThe net proceeds raised through the Offering will be for the advancement\n of the Company's Goliath Gold Project including completion of an\n Environmental Impact Statement and for general working capital\n purposes. The Offering was primarily sold to investors in Canada and\n Europe.\n\n\nThe Company paid a finder's fee of 7% cash commission to certain parties\n with respect to service provided in connection with the Offering.\n\n\nA material change report in connection with the private placement will\n be filed less than 21 days before the closing of the private placement.\n This shorter period is reasonable and necessary in the circumstances as\n the Company wished to complete the private placement in a timely\n manner.\n\n\nTo learn more about Treasury Metals, please visit the Company's website\n at www.treasurymetals.com.\n\n\n\n\n\nForward Looking Statements \n\n\nThis press release contains forward-looking statements such as the\n expected use of the net proceeds from the private placement, our future\n financial condition, business plans and objectives, results of\n operations and business. Such statements are based on operations,\n estimates, forecasts and projections. They are not guarantees of future\n performance or events and involve risks and uncertainties that are\n difficult to predict and may be beyond Treasury Metals' control. A\n number of import...

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