Offering to fund advancement of the company's Eagle Mountain Project
By Devika Patel
Knoxville, Tenn., Aug. 24 - Eagle Mountain Gold Corp. said it planned a C$2.03 million non-brokered private placement of units. Weiser Capital Management has arranged the first C$250,020 tranche and will be paid a finder's fee.
The company will sell 15 million units of one common share and one warrant at C$0.135 per unit, with units sold in the initial tranche.
Each five-year warrant will be exercisable at C$0.18, a 5.88% premium to the Aug. 23 closing share price of C$0.17.
Proceeds will be used for the advancement of the company's Eagle Mountain Project in Guyana and for general working capital.
The gold explorer is based in Vancouver, B.C.
| Issuer: | Eagle Mountain Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2,025,000
|
| Units: | 15 million
|
| Price: | C$0.135
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.18
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 24
|
| Stock symbol: | TSX Venture: Z
|
| Stock price: | C$0.17 at close Aug. 23
|
| Market capitalization: | C$2.51 million
|
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