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Re: News Releases - Friday, June 06, 2008
Troymet Announces Financing
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June 6, 2008 - Troymet Exploration Corp. (TSXV:TYE) (the "Company"):
Kieran Downes, President and Chief Executive Officer of Troymet is
pleased to announce that Troymet intends to complete a non-brokered
private placement of up to 16,250,000 units (each a "Unit") at a price
of $0.08 per Unit for gross proceeds of up to $1,300,000. Each Unit
will consist of one common share ("Common Share") and one full common
share purchase warrant ("Warrant"). Each Warrant is exercisable into
one Common Share at $0.20 per share for two years from the issuance of
such Warrant. A finder's fee of up to 10% of the gross proceeds of the
private placement may be paid on all or any portion of this private
placement. It is not anticipated that any new insiders will be created,
nor that any change of control will occur, as a result of the private
placement. Completion of the private placement is subject to regulatory
approval. Proceeds of the private placement will be used to carry out
exploration and development on Troymet's current properties and for
general working capital. The Company has scheduled a
Diamond drilling
program on the Golden Eagle property in northern BC for the upcoming
field season.
For further information, contact:
Tracy Hurley (250) 468-5557; th@troymet.com
Kieran Downes (250) 729-0453; kd@troymet.com
Website: www.troymet.com
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release. This press release may contain
"forward-looking information" within the meaning of applicable Canadian
securities legislation. All statements, other than statements of
historical fact, included herein may be forward-looking information.
Generally, forward-looking information may be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "proposed", "is expected", "budgets", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases, or
by the use of words or phrases which state that certain actions, events
or results may, could, would, or might occur or be achieved. This
forward-looking information reflects the Company's current beliefs and
is based on information currently available to the Company and on
assumptions the Company believes are reasonable. These assumptions
include, but are not limited to, the actual results of exploration
projects being equivalent to or better than estimated results in
technical reports or prior exploration results, and future costs and
expenses being based on historical costs and expenses, adjusted for
inflation. Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the Company
to be materially different from those expressed or implied by such
forward-looking information. Such risks and other factors may include,
but are not limited to: the early stage development of the Company and
its projects; general business, economic, competitive, political and
social uncertainties; commodity prices; the actual results of current
exploration and development or operational activities; competition;
changes in project parameters as plans continue to be refined;
accidents and other risks inherent in the mining industry; lack of
insurance; delay or failure to receive board or regulatory approvals;
changes in legislation, including environmental legislation, affecting
the Company; timing and availability of external financing on
acceptable terms; conclusions of economic evaluations; and lack of
qualified, skilled labour or loss of key individuals. Although the
Company has attempted to identify important factors that could cause
actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. Accordingly,
readers should not place undue reliance on forward-looking information.
The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities laws.
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Copyright (c) 2008 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 Jun 6, 2008 at 4:05:35 PM Pacific Time
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