On December 21, 2017, Treasury Metals Inc. (TSX: TML) announced that it had closed its previously announced private placement of flow-through common shares for total gross proceeds of approximately $4.25 million. The offering was completed through a syndicate of agents led by Haywood Securities Inc., and included PI Financial Corp.
Proceeds from the offering will be used to incur Canadian Exploration Expenses (“CEE”), and will qualify as ‘flow-through mining expenditures’ under the Income Tax Act (Canada).
Treasury Metals is a gold focused exploration and development company with assets in Ontario, Canada. Its 100% owned Goliath Gold Project in northwestern Ontario is slated to become one of Canada’s next producing gold mines.
Kevin Sorochan and Elizabeth Holden of Miller Thomson advised the agents with respect to this financing.