Treasury Metals Closes Up-Sized Equity Financing

TSX:TML

TORONTO, Jan. 13, 2016 /CNW/ - Treasury Metals Inc. (TSX:TML) ("Treasury Metals" or, the "Company") is pleased to announce that it has closed a final tranche of C$502,500 of units ("Units") in a non-brokered private placement (the "Final Closing"). The additional units combined with the C$497,500 that closed on December 29, 2015, total aggregate gross proceeds of C$1 million (the "Final Closing" and, collectively with the First Closing, the "Offering"). The Offering consists of the issuance by the Company of 1,903,572 units of the Company at a price of C$0.35 per Unit, for aggregate gross proceeds of C$666,250 and 741,667 flow-through common shares (the "Flow-Through Shares") at a price of C$0.45 per flow-through common share, for aggregated gross proceeds of C$333,750.  

Each Unit consists of one common share in the capital of the Company and one-half of one common share purchase warrant (each whole warrant, a "Warrant") of the Company exercisable for a period of 36 months from the closing date. Each Warrant shall be exercisable into one common share of the Company at C$0.55 per share.

"Having completed this financing, the Company will continue to advance technical programs and mine permitting at our flagship Goliath Gold Project," said Martin Walter, President and Chief Executive Officer. We were pleased to see primarily new investors participate in the offering and  institutional participation."

The Company paid an aggregate cash finder's fee of 7% to certain arm's length parties with respect to certain orders provided in connection with the Offering.

All of the common shares and Warrants comprising the Units, and any common shares issued upon due exercise of the Warrants with respect to the Offering will be subject to a four-month hold period under applicable securities laws in Canada.

To learn more about Treasury Metals, please visit the Company's website at www.treasurymetals.com.

Forward Looking Statements

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Actual results or developments may differ materially from those in forward-looking statements. Treasury Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

SOURCE Treasury Metals Inc.

For further information: Greg Ferron, Vice President, Corporate Development, T: 1.416.214.4654, greg@treasurymetals.com; Follow us on Twitter @TreasuryMetals

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www.treasurymetals.com

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