By Sheri Kasprzak
New York, May 18 - Eastern Goldfields, Inc. closed a private placement for $3 million.
The company sold 521,739 shares at $5.75 each.
Proceeds will be used for drilling at the company's Lily mine, underground mining, continued exploration and a planned secondary listing on London's Alternative Investment Market
San Diego-based Eastern Goldfields is a gold exploration, mining and acquisition company focused on properties in southern Africa.
| Issuer: | Eastern Goldfields, Inc.
|
| Issue: | Stock
|
| Amount: | $3 million
|
| Shares: | 521,739
|
| Price: | $5.75
|
| Warrants: | No
|
| Settlement date: | May 18
|
| Stock symbol: | Pink Sheets: EGDD
|
| Stock price: | $5.95 at close May 18
|
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