August 20, 2013
August 20, 2013, Troymet Exploration Corp. (“Troymet”), is pleased to
announce that Troymet 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 (“Units
”) issued at a price of $0.01 per Unit with each Unit comprised of one common share (“Common Share
”) in the share capital of the Corporation and one-third (1/3) 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. Additionally, finder’s
warrants, exercisable into Common Shares of Troymet, may be issued in
an amount up to 8% of the number of Units sold under 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.
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 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.
TROYMET EXPLORATION CORP.
For further information, contact:
Kieran Downes (250) 729-0453; firstname.lastname@example.org
Anthony Zelen (778) 331-2028; email@example.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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