By Devika Patel
Knoxville, Tenn., Feb. 19 - Etruscan Resources Inc. said it plans a C$10.5 million private placement of stock.
The company will sell 28,378,378 common shares at C$0.37 per share via agent Raymond James Ltd. on a best-efforts basis. Endeavour Financial will purchase a minimum of 15,608,108 shares for C$5.78 million.
Settlement is expected on March 2.
Proceeds will be used for exploration and general corporate purposes.
Etruscan, based in Windsor, N.S., is a gold exploration and development company.
Issuer: | Etruscan Resources Inc.
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Issue: | Common shares
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Amount: | C$10.5 million
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Shares: | 28,378,378
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Price: | C$0.37
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Warrants: | No
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Agent: | Raymond James Ltd.
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Investor: | Endeavour Financial (for C$5,775,000)
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Pricing date: | Feb. 19
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Settlement date: | March 2
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Stock symbol: | Toronto: EET
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Stock price: | C$0.365 at close Feb. 18
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Market capitalization: | C$129 million
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