By Devika Patel
Knoxville, Tenn., July 23 - Emgold Mining Corp. announced Dunn Capital Partners has committed to buy up to C$6 million shares under a two-year equity line financing arrangement.
The company may draw on the equity line in tranches. The maximum amount of any tranche will be C$500,000. The price per share will be equal to an agreed-upon discount to the share price during the five-day period following the draw notice.
Proceeds will be used to repay the company's convertible loans, finance Emgold's ongoing business operations and for advancing the permitting of the Idaho-Maryland Mine.
Emgold is a mining company based in Vancouver, B.C.
| Issuer: | Emgold Mining Corp.
|
| Issue: | Equity line financing
|
| Amount: | C$6 million
|
| Tenor: | Two years
|
| Warrants: | No
|
| Investor: | Dunn Capital Partners
|
| Pricing date: | July 23
|
| Stock symbol: | TSX Venture: EMR
|
| Stock price: | C$0.11 at close July 22
|
| Market capitalization: | C$13.8 million
|
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