Proceeds used for exploration, advancement of company's gold projects
By Devika Patel
Knoxville, Tenn., Dec. 6 - Treasury Metals Inc. said it settled a C$4.05 million private placement of stock. The deal priced for C$4 million with a C$2 million greenshoe on Nov. 16 and was conducted on a best-efforts basis by Cormark Securities Inc., Canaccord Genuity Corp. and Raymond James Ltd.
The company sold 3,521,073 flow-through shares at C$1.15 apiece. The price per share reflects a 10.58% premium to the Nov. 15 closing share price of C$1.04.
Proceeds will be used to explore and advance Treasury Metals' gold projects.
Toronto-based Treasury Metals is a mineral explorer.
| Issuer: | Treasury Metals Inc.
|
| Issue: | Flow-through stock
|
| Amount: | C$4,049,234
|
| Shares: | 3,521,073
|
| Price: | C$1.15
|
| Warrants: | No
|
| Agents: | Cormark Securities Inc., Canaccord Genuity Corp. and Raymond James Ltd.
|
| Pricing date: | Nov. 16
|
| Settlement date: | Dec. 6
|
| Stock symbol: | Toronto: TML
|
| Stock price: | C$1.00 at close Nov. 16
|
| Market capitalization: | C$44.41 million
|
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