09:09 AM EDT, 07/05/2024 (MT Newswires) -- Treasury Metals ( TSRMF ) said Friday it has completed tranche 2 of its non-brokered private placement of flow-through units. Tranche 2 consisted of near 8.7 million FT units at $0.23 each for aggregate gross proceeds of near $2 million. Combined with the first tranche, the financing consisted of 27.8 million FT units, for a total of near $6.4 million.

Each FT unit consists of one Treasury FT share and one common share purchase warrant. Each warrant is exercisable at $0.35 until July 2, 2027. Certain company insiders participated in Tranche 2, acquiring 8.7 million FT units on the same terms as other investors for $2 million.

The company has also completed its continuance from Ontario to British Columbia, and its common shares will commence trading Friday on the TSX Venture Exchange. Treasury's common shares will be delisted from the Toronto Stock Exchange.

In connection with its business combination with Blackwolf Copper and Gold ( BWCGF ), the company will change its name to NeXGold Mining Corp. and consolidate its shares on the basis of one post-consolidation share for every four pre-consolidation shares. The name change and consolidation are expected to take effect on or about July 9, 2024. Shares will trade under the symbol NEXG from July 10.