New Issue: Etruscan concludes C$10.5 million shares sale

By Devika Patel

Knoxville, Tenn., March 31 - Etruscan Resources Inc. said it settled a second and final tranche of a C$10.5 million private placement of stock for C$4.7 million. The deal was arranged with 2190776 Ontario Inc. on Feb. 19 and the initial tranche settled for C$5.8 million on Feb. 24.

The company sold a total of 26,315,789 common shares and 6,890,741 warrants. It sold 14,616,949 shares in the first tranche and 11,698,840 shares in this one.

The warrants are exercisable at C$0.5478 until July 15, 2010.

Etruscan, based in Windsor, N.S., is a gold exploration and development company.

Issuer:	Etruscan Resources Inc.
Issue:	Common shares
Amount:	C$10.5 million
Shares:	26,315,789
Warrants:	6,890,741
Warrant expiration:	July 15, 2010
Warrant strike price:	C$0.5478
Investor:	2190776 Ontario Inc.
Pricing date:	Feb. 19
Settlement date:	Feb. 24 (for C$5.8 million), March 31 (for C$4.7 million)
Stock symbol:	Toronto: EET
Stock price:	C$0.55 at close Feb. 18

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