By Devika Patel
Knoxville, Tenn., March 14 - Empire Mining Corp. announced it has arranged a private placement of units for between C$1.05 million and C$2.03 million.
The company will sell between 3.5 million and 6.75 million units at C$0.30 apiece. Each unit will consist of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.38 for 18 months.
Canaccord Capital Corp. is the agent.
Proceeds will be used for general working capital and for exploration and development of the company's Bursa Property.
Empire is a capital pool company based in Vancouver, B.C.
| Issuer: | Empire Mining Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.05 million (minimum), C$2,025,000 (maximum)
|
| Units: | 3.5 million (minimum), 6.75 million (maximum)
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.38
|
| Agent: | | Canaccord Capital Corp.
|
| Pricing date: | March 14
|
| Stock symbol: | TSX Venture: EPC
|
| Stock price: | C$0.32 at close March 13
|
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