By Laura Lutz
Washington, Dec. 8 - Emgold Mining Corp. wrapped a slightly upsized private placement for C$5,107,674.
The company sold 13,024,105 non flow-through units at C$0.32 per unit for proceeds of C$4,167,714 and sold 2,238,000 flow-through units at C$0.42 per unit for proceeds of C$939,960.
The deal priced on Nov. 17 as a C$5.05 million offering of up to 13 million non flow-through units and up to 2,023,810 flow-through units.
Each non flow-through unit includes one non flow-through share and one non flow-through warrant, with each warrant exercisable at C$0.40 for two years.
Each flow-through unit includes one flow-through share and one half-share non flow-through warrant, with each warrant exercisable at C$0.50 for two years.
Proceeds from the non flow-through units will be used to advance permitting on the company's Idaho-Maryland gold project and for working capital.
M Partners Inc. will act as agent for the deal.
Emgold is a Vancouver, B.C.-based mining and exploration company.
| Issuer: | Emgold Mining Corp.
|
| Issue: | Units of one non flow-through share and one non flow-through warrant and units of one flow-through share and one flow-through warrant
|
| Amount: | C$5,107,674
|
| Agent: | M Partners Inc.
|
| Pricing date: | Nov. 17
|
| Settlement date: | Dec. 8
|
| Stock symbol: | TSX Venture: EMR
|
| Stock price: | C$0.35 at close Nov. 17
|
| Stock price: | C$0.29 at close Dec. 8
|
|
|
| Non flow-through units
|
| Units: | 13,024,105
|
| Price: | C$0.32
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.45
|
|
|
| Flow-through units
|
| Units: | 2,238,000
|
| Price: | C$0.42
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.55
|
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