By Devika Patel
Knoxville, Tenn., Sept. 23 - Etruscan Resources Inc. said it negotiated a $43 million private placement of stock.
The company will sell common shares at C$0.30 apiece to Endeavour Financial Corp.
Proceeds will be used to repurchase gold call options, to repay unsecured convertible debt and for working capital purposes.
Etruscan, based in Windsor, N.S., is a gold exploration and development company.
| Issuer: | Etruscan Resources Inc.
|
| Issue: | Common shares
|
| Amount: | $43 million
|
| Price: | C$0.30
|
| Warrants: | No
|
| Investor: | Endeavour Financial Corp.
|
| Pricing date: | Sept. 23
|
| Stock symbol: | Toronto: EET
|
| Stock price: | C$0.39 at close Sept. 22
|
| Market capitalization: | C$56.3 million
|
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