Treasury Metals Inc. announced a a non-brokered private placement of up to 28,600,000 units at a price of CAD 0.14 per unit for the gross proceeds of CAD 4,004,000 on November 23, 2023. Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each whole warrant will be exercisable at a price of CAD 0.25 for a period of 36 months following the closing of the offering.

The transaction may include participation from the insiders of the company. The offering is expected to close on or about December 14, 2023, or such other date or dates as determined by the company and is subject to certain conditions including, but not limited to the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and any applicable securities regulatory authorities. There can be no assurance as to whether or when the offering may be completed, or as to the actual final size of the offering.

All securities issued in connection with the offering will be subject to a four month and one day hold period in Canada.