TSX:TML
TORONTO, June 5, 2012 /CNW/ - Treasury Metals Incorporated ("Treasury
Metals" or the "Company") is pleased to announce the re-election of the
Board of Directors at its Annual and Special Meeting of Shareholders
(the "Meeting") held on May 30, 2012. At the Meeting, shareholders
approved a Board of six Directors, the re-appointment of Collins Barrow
LLP as auditors and the renewal of the amended and restated stock
option plan. Meeting results will be made available on Sedar (www.sedar.com).
Shareholders approved the re-appointment of Marc Henderson (Chairman),
Martin Walter (President and CEO), Douglas Bache, Harry Burgess,
William Fisher and Blaise Yerly as Directors of the Company. Directors
were approved on an individual basis.
Peter Walker retired from the Board of Directors and therefore did not
stand for re-election at the Meeting. Mr. Walker, formerly Chairman,
President and CEO of Corona Gold Corp. (former operator of the Goliath
Gold Project), has been involved with Treasury Metals since February
2008 as a Director. The Company thanks Mr. Walker for his contributions
and dedicated years of service.
A copy of the corporate presentation made at the Meeting dated June 2012
has been made available on the Company's website.
In addition, as of June 2, 2012, the Company's December 2010 warrants
with an exercise price of $0.70 and $1.00 (flow-through units) have
expired. Proceeds received from these warrant exercises, since the
March 31, 2012 interim financial statements were reported, totaled
$386,063. As a result of the warrant expiry, the Company now has no
outstanding warrants and there are 53.6 million issued and outstanding
common shares.
In addition to these funds, the Company received payment totaling
$237,917 for the three-month period ending March 31, 2012 in royalty
income from the Cerro Colorado gold mine located in Mexico. The Company
will continue to receive similar payments paid on a monthly basis for
the life of the mine. The Cerro Colorado gold mine is operated by
GoldGroup Mining Inc. and has been in operation for approximately eight
years.
Forward-looking Statements
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This release includes certain statements that may be deemed to be
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address events or
developments that management of the Company expect, are forward-looking
statements. Actual results or developments may differ materially from
those in forward-looking statements. Treasury Metals disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, save and except as may be required by applicable securities
laws.
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