Haywood Securities is the agent; deal has C$1 million greenshoe
By Devika Patel
Knoxville, Tenn., April 27 – Treasury Metals Inc. said it could raise C$2 million in a private placement of units with a C$1 million greenshoe. The deal will be conducted by Haywood Securities Inc. on a reasonable commercial efforts basis.
The company will sell units of one common share and one half-share warrant at C$0.48 per unit.
Each whole warrant is exercisable at C$0.70 for three years. The strike price reflects a 27.27% premium to the April 26 closing share price of C$0.55.
Settlement is expected May 18.
Proceeds will be used to advance the Goliath Gold Project and for working capital and general corporate purposes.
Toronto-based Treasury Metals is a gold explorer.
| Issuer: | Treasury Metals Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Greenshoe: | C$1 million
|
| Price: | C$0.48
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.70
|
| Agent: | Haywood Securities Inc.
|
| Pricing date: | April 27
|
| Settlement date: | May 18
|
| Stock symbol: | Toronto: TML
|
| Stock price: | C$0.55 at close April 26
|
| Market capitalization: | C$45.02 million
|
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