By Sheri Kasprzak
Atlanta, May 2 - Emerson Exploration Inc. plans to head to the private placement market with a C$2.85 million offering.
The deal includes 5 million units at C$0.57 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$0.71 each for two years.
Based in Vancouver, B.C., Emerson is a gold exploration company. It plans to use the proceeds to exercise its back-in right at Goldconda Resource Corp.'s Arizona property, for exploration on its Fox claims in the Yukon and for working capital.
Issuer: | Emerson Exploration Inc.
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Issue: | Units of one share and one warrant
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Amount: | C$2.85 million
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Units: | 5 million
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Price: | C$0.57
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.71
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Pricing date: | April 29
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Stock price: | C$0.72 at close April 29
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