Funds for advancing projects in Ontario and general working capital
By Melissa Kory
Cleveland, May 16 - Entourage Metals Ltd. announced it closed its non-brokered private placement of 1.55 million common shares for C$1.01 million.
The shares were sold at C$0.65 per share, a 7.14% discount from the May 13 closing price of C$0.70.
All securities distributed under the private placement are subject to a four-month hold period expiring Sept. 12.
Kinross Gold Corp. subscribed for all of the shares, which represent around 6.9% of the company's issued and outstanding shares.
The company intends to use the proceeds to advance its projects in Ontario and for general working capital.
Entourage Metals is a mining company based in Vancouver, B.C.
| Issuer: | Entourage Metals Ltd.
|
| Issue: | Common shares
|
| Amount: | C$1,007,500
|
| Shares: | 1.55 million
|
| Price: | C$0.65
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | May 16
|
| Stock symbol: | TSX Venture: EMT
|
| Stock price: | C$0.70 at close May 13
|
| Market capitalization: | C$15.56 million
|
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