Non-brokered deal funds exploration, acquisitions and working capital
By Devika Patel
Knoxville, Tenn., Nov. 2 - Emgold Mining Corp. said it has increased a non-brokered private placement of units to C$2 million from C$1 million. The deal priced Oct. 26.
The company will now sell 20 million units of one common share and one warrant at C$0.10 per unit.
Each two-year warrant will be exercisable at C$0.15, which is a 20% premium to the Oct. 25 closing share price of C$0.125.
Settlement of the initial tranche is expected Nov. 8.
Proceeds will be used primarily for exploration on the company's Buckskin Rawhide Property, acquisitions, exploration of the Stewart Property and general working capital.
Emgold is a gold explorer based in Vancouver, B.C.
| Issuer: | Emgold Mining Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2 million
|
| Units: | 20 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 26
|
| Upsized: | Nov. 2
|
| Settlement date: | Nov. 8
|
| Stock symbol: | TSX Venture: EMR
|
| Stock price: | C$0.125 at close Oct. 25
|
| Market capitalization: | C$5.2 million
|
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