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Troymet Exploration Corp Announces Private Placement


Tuesday, 20 Aug 2013 08:18pm EDT 

Troymet Exploration Corp announced that it intends to complete a non-brokered private placement for aggregate gross proceeds of up to $885,600 consisting of 88,560,000 units of the Corporation issued at a price of $0.01 per Unit with each Unit comprised of one common share in the share capital of the Corporation and one-third of one Common Share purchase warrant (a Warrant). Each full Warrant is exercisable for one year from closing into one Common Share at $0.05 per share and at $0.10 per share in the second and third year from closing. A finder's fee of up to 8% of the gross proceeds of the private placement may be paid in cash or Common Shares on all or any portion of this private placement. The finder's warrants will be exercisable into Common Shares at a price of $0.05 per Common Share for a period of one year from the date of issuance of the finder's warrants. Any shareholder interested in participating in the financing should contact the Company. Completion of the private placement is subject to regulatory approval. Proceeds of the private placement will be used to fund Troymet's exploration expenditures including the costs of drill testing at the Key property along with a limited bulk till program on this property and to fund general working capital. Closing of the financing is anticipated to occur on or around September 20, 2013. 

Company Quote

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24 Dec 2014