By Devika Patel
Knoxville, Tenn., April 26 - Emgold Mining Corp. said it raised $350,000 in the second tranche of a non-brokered private placement of units. It raised $400,000 in the first tranche on April 6, and the deal was increased to $1.25 million from $750,000 on April 12 due to increased demand.
The company is selling 5 million units of one common share and one warrant at $0.25 per unit. The warrants are exercisable at $0.35 for two years.
In the first tranche, the company sold 1.6 million units. It sold 1.4 million units in the second tranche.
Proceeds will be used for general working capital.
Emgold is a mining company based in Vancouver, B.C.
| Issuer: | Emgold Mining Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $1.25 million
|
| Units: | 5 million
|
| Price: | $0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.35
|
| Agent: | Non-brokered
|
| Upsized: | April 12
|
| Settlement date: | April 6 (for $400,000), April 26 (for $350,000)
|
| Stock symbol: | TSX Venture: EMR
|
| Stock price: | C$0.24 at close April 6
|
| Market capitalization: | C$3.97 million
|
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