Welcome To The TroyMet Exploration Corp. HUB On AGORACOM
Edit this title from the Fast Facts Section
Message: Completes Second Closing of Private Placement
| January 16, 2009 |
| Troymet Completes Second Closing of Private Placement |
| COMOX, BRITISH COLUMBIA--(Marketwire - Jan. 16, 2009) - Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the "Company"): Further to a press release dated January 2, 2009, Troymet is pleased to announce that it has completed a second closing of a non-brokered private placement consisting of 600,000 units ("Units") issued at a price of $0.025 per Unit for gross proceeds of $15,000. Each Unit consists of one common share (issued on a non-flow-through basis) and one full common share purchase warrant (a "Warrant"). Each Warrant is exercisable into one common share for two years from the date of issuance at a price of $0.05 during the first year of the Warrant and at $0.10 during the second year of the Warrant. All of the securities issued in connection with the second closing of the private placement are subject to a four-month hold period (until May 17, 2009). In the first closing, announced on January 2, 2009, the Corporation issued 9,200,000 common shares of the Corporation issued on a "flow-through" basis ("Flow-Through Shares") at a price of $0.025 per Flow-Through Share for gross proceeds of $230,000 and 700,000 units ("Units") at a price of $0.025 per Unit for gross proceeds of $17,500. Combined proceeds of both tranches of the private placement totaling $262,500 will be used to carry out exploration and development on Troymet's current properties, to pay accounts payable and for general working capital. After giving effect to both closings of the private placement, Troymet has 50,393,113 common shares issued and outstanding. The completion of the private placement is subject to final TSX Venture Exchange approval. |
4 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply