By Sheri Kasprzak
Atlanta, March 31 - Emgold Mining Corp. said it plans to raise up to C$12.4 million in a non-brokered private placement.
The offering includes up to 24.8 million units at C$0.50 each.
The units are comprised of one share and one warrant. The warrants provide for an additional share, exercisable at C$0.70 each for two years.
Emgold, based in Vancouver, B.C., is a gold exploration and development company. The proceeds from the offering will be used for exploration and development on its Idaho-Maryland project in California, the ongoing development and commercialization of the Ceramext project and for general administrative purposes.
| Issuer: | Emgold Mining Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$12.4 million (maximum)
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| Units: | 24.8 million (maximum)
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| Price: | C$0.50
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.70
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| Pricing date: | March 30
|
| Stock price: | C$0.45 at close March 30
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