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Re: News Releases - Friday, January 22, 2010
Troymet Completes $500,000 Financing
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January 22, 2010 Troymet Exploration Corp. ("Troymet"): Further to a
press release dated December 8, 2009, Troymet has completed the closing
of a non-brokered private placement consisting of 10,000,000 units at a
price of $0.05 per unit for gross proceeds of $500,000. Each unit
consists of one common share and one common share purchase warrant.
Each warrant is exercisable into one common share at a price of $0.10
per common share for two years from the date of issuance. Proceeds of
the private placement will be used for Troymet's drilling program at
McClarty Lake, MB, and for general corporate purposes. A finder's fee
of $31,200 was paid to a finder by the issuance of 624,000 common
shares of Troymet. In addition, 624,000 finder's warrants were issued
with each finder's warrant being exercisable into one common share at a
price of $0.05 per common share for a period of two years from the date
of issuance of the finder's warrants. All of the securities issued in
connection with the private placement are subject to a four-month hold
period (until May 23, 2010).
The completion of the private placement is subject to final TSX Venture
Exchange approval. One officer of Troymet participated in the private
placement and Troymet has determined that there are exemptions
available from the various requirements of TSX Venture Policy 5.9 and
Multilateral Instrument 61-101 for the issuance of the units to such
officer of Troymet (Formal Valuation - Issuer Not Listed on Specified
Markets; Minority Approval - Fair Market Value Not More Than
$2,500,000). After giving effect to the private placement, Troymet has
65,417,113 common shares issued and outstanding.
For further information, contact:
Kieran Downes (250) 729-0453; kdownes@troymet.com
Brian Cebryk (250) 890-0607; bc@troymet.com
Website: www.troymet.com
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy of accuracy of this news
release. This news release may contain certain forward-looking
information. All statements included herein, other than statements of
historical fact, is forward-looking information and such information
involves various risks and uncertainties. There can be no assurance
that such information will prove to be accurate, and actual results and
future events could differ materially from those anticipated in such
information. A description of assumptions used to develop such
forward-looking information and a description of risk factors that may
cause actual results to differ materially from forward-looking
information can be found in the corporation's disclosure documents on
the SEDAR website at www.sedar.com. The corporation does not undertake
to update any forward-looking information except in accordance with
applicable securities laws.
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Copyright (c) 2010 TROYMET EXPLORATION CORP. (TYE) All rights
reserved. For more information visit our website at
http://www.troymet.com/ or send mailto:info@troymet.com
Message sent on Fri Jan 22, 2010 at 5:29:33 PM Pacific Time
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Troymet Exploration Corp.
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EXPLORATION STAGE |
CODE : TYE.V |
ISIN : CA8977731071 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Troymet is a silver and gold exploration company based in Canada. Its main exploration properties are MCCLARTY LAKE, KEY, WHEATCROFT and GOLDEN EAGLE in Canada. Troymet is listed in Canada. Its market capitalisation is CA$ 609 281 as of today (US$ 452 325, € 397 720). Its stock quote reached its highest recent level on November 26, 2010 at CA$ 0.41, and its lowest recent point on June 28, 2019 at CA$ 0.01. Troymet has 121 856 225 shares outstanding. |