July 29, 2011
29, 2011 - Troymet Exploration Corp. (TSXV:TYE) (“Troymet”) is pleased
to announce that further to its press release dated July 19, 2011, the
size of its previously-announced non-brokered private placement has been
increased to $1,500,000 (the “Increased Offering
”) due to market demand. The Increased Offering will consist of a combination of units (“Units
issued at a price of $0.05 per Unit and common shares issued on a
“flow-through” basis at a price of $0.07 per common share. Each Unit
will consist of one common share in the capital of Troymet (a “Common Share
”) and one Common Share purchase warrant (a “Warrant
Each full Warrant is exercisable for one year from closing into one
Common Share at $0.15 per share. 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 and flow-through
Common Shares 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
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 for Troymet’s exploration
programs at the Key and Golden Eagle properties in British Columbia,
and for general corporate purposes.
Closing of the financing is anticipated to occur on or around August 12, 2011.
For further information, contact:
Brian Cebryk (250) 890-0607
Kieran Downes (250) 729-0453
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 Troymet’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.
You can view the Next News item:August 19th, 2011, Troymet Closes $1,844,850 Private Placement
You can view the Previous News item:July 19th, 2011, Troymet Announces $1,000,000 Private Placement
Back to the main News page, or press the Back button on your browser.