Deal sells 7.7 million units at C$0.13 per unit to fund exploration
By Devika Patel
Knoxville, Tenn., Dec. 19 - Emgold Mining Corp. announced it will raise C$1 million in a non-brokered private placement of units.
The company will sell 7.7 million units of one flow-through common share and one half-share warrant at C$0.13 per unit. Each whole warrant will be exercisable at C$0.20 for 18 months. The strike price reflects an 81.82% premium to the Dec. 16 closing share price of C$0.11.
Proceeds will be used for exploration activity on properties in British Columbia.
Emgold is a gold explorer based in Vancouver, B.C.
| Issuer: | Emgold Mining Corp.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1,001,000
|
| Units: | 7.7 million
|
| Price: | C$0.13
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 12
|
| Stock symbol: | TSX Venture: EMR
|
| Stock price: | C$0.11 at close Dec. 16
|
| Market capitalization: | C$4.05 million
|
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