Non-brokered deal funds exploration, acquisitions and working capital
By Devika Patel
Knoxville, Tenn., Nov. 21 - Emgold Mining Corp. said it settled a C$1.16 million tranche of a C$2 million non-brokered private placement of units. The deal priced for C$1 million Oct. 26 and was increased on Nov. 2.
The company is selling 20 million units of one common share and one warrant at C$0.10 per unit. It sold 11.62 million units in the first tranche.
Each two-year warrant will be exercisable at C$0.15, which is a 20% premium to the Oct. 25 closing share price of C$0.125.
Proceeds will be used primarily for exploration on the company's Buckskin Rawhide Property, acquisitions, exploration of the Stewart Property and general working capital.
Emgold is a gold explorer based in Vancouver, B.C.
| Issuer: | Emgold Mining Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2 million
|
| Units: | 20 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 26
|
| Upsized: | Nov. 2
|
| Settlement date: | Nov. 21 (for C$1,162,000)
|
| Stock symbol: | TSX Venture: EMR
|
| Stock price: | C$0.125 at close Oct. 25
|
| Market capitalization: | C$5.4 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
