Treasury Metals and Blackwolf Complete Business Combination and Initial Financing Tranche

Treasury Metals Inc. (TSX:TML)(OTCQX:TSRMF) and Blackwolf Copper and Gold Ltd. (TSXV:BWCG)(OTCQB:BWCGF) have announced the completion of their business combination. Treasury acquired all common shares of Blackwolf through a court-approved plan of arrangement. As part of the transaction, former Blackwolf shareholders will receive 0.607 of a Treasury share for each Blackwolf share held, resulting in the issuance of 87,623,800 new Treasury shares. Post-transaction, Treasury and former Blackwolf shareholders hold 68% and 32% of the combined company, respectively.

Blackwolf shares are expected to be delisted from the TSXV on July 4, 2024, while Treasury shares will move from the Toronto Stock Exchange to the TSXV on July 5, 2024. Additionally, Treasury has completed Tranche 1 of a non-brokered private placement, raising C$4,401,280 and plans to complete Tranche 2 on July 5, 2024, aiming to raise an additional C$1,998,700.

The Niblack Copper-Gold project, under an agreement with Teck Resources, involved Blackwolf issuing 9,669,470 shares to Teck to settle a $1,250,000 payment. Advisory firm Fiore Management received 2,830,501 Blackwolf shares for their advisory services. The newly formed company aims to grow as a mid-tier gold company, leveraging the integrated expertise of both organizations.