By Sheri Kasprzak
Atlanta, May 18 - Emgold Mining Corp. said it has closed a downsized private placement for C$9.18 million.
The company sold 18.36 million units at C$0.50 each.
The units include one share and one warrant. The warrants allow for an additional share at C$0.70 each for two years.
The deal was first announced March 30 as a C$12.4 million offering comprised of up to 24.8 million units under the same terms.
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.
|
| Issue: | Units of one share and one warrant
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| Amount: | C$9.18 million
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| Units: | 18.36 million
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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
|
| Settlement date: | May 17
|
| Stock price: | C$0.45 at close March 30
|
| Stock price: | C$0.31 at close May 17
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