Deal with C$2 million greenshoe to fund exploration of gold projects
By Devika Patel
Knoxville, Tenn., Nov. 16 - Treasury Metals Inc. said it plans a C$4 million private placement of stock. The deal will be conducted on a best-efforts basis by Cormark Securities Inc., Canaccord Genuity Corp. and Raymond James Ltd. and has a C$2 million greenshoe.
The company will sell 3.48 million 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.
Settlement is expected on Dec. 6.
Proceeds will be used to explore and advance Treasury Metals' gold projects.
The Toronto-based issuer is a mineral explorer.
Issuer: | Treasury Metals Inc.
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Issue: | Flow-through stock
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Amount: | C$4,002,000
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Greenshoe: | C$2,001,000
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Shares: | 3.48 million
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Price: | C$1.15
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Warrants: | No
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Agents: | Cormark Securities Inc., Canaccord Genuity Corp., and Raymond James Ltd.
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Pricing date: | Nov. 16
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Settlement date: | Dec. 6
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Stock symbol: | Toronto: TML
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Stock price: | C$1.00 at close Nov. 16
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Market capitalization: | C$47.71 million
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