Offering funds exploration at the company's Quebec project portfolio
By Devika Patel
Knoxville, Tenn., Dec. 18 - Eastmain Resources Inc. said it will raise about C$4.31 million in a non-brokered private placement of stock.
The company will sell 5,330,976 flow-through common shares at an average price of C$0.81 apiece. The price per share is an 8% premium to the Dec. 17 closing share price of C$0.75.
Proceeds will be used for exploration of Eastmain's Quebec project portfolio.
Based in Toronto, Eastmain is a precious metals exploration and development company.
| Issuer: | Eastmain Resources Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$4.31 million (approximate)
|
| Shares: | 5,330,976
|
| Price: | C$0.81 (average)
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 18
|
| Stock symbol: | Toronto: ER
|
| Stock price: | C$0.75 at close Dec. 17
|
| Market capitalization: | C$71.48 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.
