By Laura Lutz
Des Moines, Aug. 22 - Emgold Mining Corp. priced a C$4.5 million private placement of 7.5 million units at C$0.60 each.
Each unit consists of one share and one half-share warrant. Each whole warrant is exercisable for one non-transferable share at C$1.00 for two years.
The deal is non-brokered.
Proceeds will be used for exploration and development on Emgold's Idaho-Maryland project in Grass Valley, Calif.; development and commercialization of the Ceramext process; and exploration of properties in British Columbia as well as for general working capital.
Emgold is a Vancouver, B.C.-based mining and exploration company.
| Issuer: | Emgold Mining Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$4.5 million
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| Units: | 7.5 million
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| Price: | C$0.60
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.00
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| Placement agent: | Non-brokered
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| Pricing date: | Aug. 22
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| Stock symbol: | TSX Venture: EMR
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| Stock price: | C$0.67 at close on Aug. 21
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