TYE Troymet Exploration Corp.

Troymet Exploration Corp. ("Troymet") (TSX VENTURE:TYE): Further to press
releases dated July 19, 2011 and July 29, 2011, Troymet has completed a
non-brokered private placement consisting of 17,710,000 units ("Units") at a
price of $0.05 per Unit for gross proceeds of $885,500 and 13,705,000 common
shares issued on a "flow-through" basis ("Flow-Through Common Shares") at a
price of $0.07 per Flow-Through Common Share for gross proceeds of $959,350.
Aggregate gross proceeds from the sale of both Units and Flow-Through Common
Shares totaled $1,844,850. The private placement was over-subscribed and
increased by $344,850 from the $1,500,000 amount announced in the July 29, 2011
press release. Each Unit consists of one common share (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. 


Finder's fees in the aggregate amount of $142,388 were paid to seven finders. In
addition, an aggregate of 2,409,200 finder's warrants (each a "Finder's
Warrant") 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 one year 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 and one day
hold period (until December 19, 2011). 


These proceeds will be used for Troymet's exploration programs at the Key and
Golden Eagle properties in British Columbia and for general corporate purposes. 


The completion of the private placement is subject to final TSX Venture Exchange
approval. After giving effect to the private placement, Troymet has 118,380,410
Common Shares issued and outstanding.


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.

Troymet Exploration Corp. (TSXV:TYE)
Historical Stock Chart
From Jun 2024 to Jul 2024

Troymet Exploration Corp. (TSXV:TYE)
Historical Stock Chart
From Jul 2023 to Jul 2024