Treasury Metals Confirms Closing of Tranche 2 of Private Placement, Continuance to British Columbia and Listing on TSXV, and Announces Name Change and Consolidation

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[{"type":"text","content":"TORONTO, July 05, 2024 (GLOBE NEWSWIRE) -- Treasury Metals Inc. (TSXV: TML; OTCQX: TSRMF) (“Treasury”) is pleased to announce the completion of tranche 2 (“Tranche 2”) of the previously announced non-brokered private placement (“Financing”) of flow-through units (“FT Units”). Tranche 2 consisted of 8,690,000 FT Units at $0.23 per FT Unit for aggregate gross proceeds of C$1,998,700. Combined with the closing of the first tranche of the Financing, the Financing consisted of an aggregate of 27,826,000 FT Units at $0.23 per FT Unit for aggregate gross proceeds of C$6,399,980. In addition, Treasury is pleased to confirm that it has completed its continuance from the Province of Ontario to the Province of British Columbia, and its common shares will commence trading today on the TSX Venture Exchange (“TSXV”) as of the open of the market and the common shares have been delisted from the Toronto Stock Exchange (“TSX”). The Company will trade on the TSXV under the same ticker symbol, “TML”. Furthermore, in connection with the completion of the business combination with Blackwolf Copper and Gold Ltd., the Company will change its name from “Treasury Metals Inc.” to “NeXGold Mining Corp.” (the “Name Change”), and complete a consolidation of the Company’s issued and outstanding shares (“Shares”) on the basis of one post-consolidation Share for every four pre-consolidation Shares (the “Consolidation”). As a result of the Consolidation, the number of issued and outstanding Shares will be reduced from 303,174,006 to approximately 75,793,273, subject to adjustment for rounding. The Name Change and Consolidation are anticipated to take effect on or about July 9, 2024. The Shares will be trading under the symbol “NEXG” on the TSXV effective as of market open on or about July 10, 2024. The Financing remains subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSXV and any applicable securities regulatory authorities. All securities issued in connection with the Financing are subject to a four-month and one-day hold period in Canada. Each FT Unit issued under the Financing consists of one Treasury Share that is issued as \"flow-through shares\" within the meaning of the Income Tax Act (Canada) (an “FT Share”) and one common share purchase warrant (a “Wa...

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