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Treasury Metals raises $11.5m

17th June 2020

By: Creamer Media Reporter

     

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TSX-listed Treasury Metals is increasing the size of its offering to an aggregate of 32-million subscription receipts at $0.36 a receipt, for gross proceeds of $11.52-million.

The offering is being completed in connection with the previously announced acquisition of the outstanding common shares of Tamaka Gold, a wholly owned subsidiary of First Mining Gold, which owns the Goldlund gold project.

The acquisition will consolidate the adjacent Goldlund and Goliath projects, creating a district-scale, multimillion-ounce gold opportunity.

The consolidation solidifies the combined asset as one of the largest undeveloped gold assets in Canada, with a consolidated resource base of two-million ounces of gold in the measured and indicated resource categories, and 1.1-million ounces of gold in the inferred resource category.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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