ECU Silver Mining to raise C$25 million from placement of units

By Laura Lutz

Des Moines, May 3 - ECU Silver Mining Inc. arranged a private placement of units for up to C$25 million.

The company plans to sell units of one share and one half-share warrant with each full warrant exercisable for two years.

Pricing of the units and warrants has not been determined.

A syndicate led by Blackmont Capital Inc. and including CIBC World Markets Inc., Desjardins Securities Inc., TD Securities Inc. and Salman Partners Inc. acted as agents.

Proceeds will be used to advance the company's Mexican silver properties.

Settlement is expected on May 30.

ECU is a metals exploration and development company based in Toronto.

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