Business
Erin Ventures Closed Private Placement
VICTORIA, BC / ACCESSWIRE / December 16, 2020 / Erin Ventures Inc. (" Erin " or the " Compan...
About this update from Boron One Holdings Inc
[{"type":"text","content":"Erin Ventures Closed Private PlacementVICTORIA, BC / ACCESSWIRE / December 16, 2020 / Erin Ventures Inc. (\"Erin\" or the \"Company\") (TSXV:EV) is pleased to announce that it has completed its non-brokered private placement offering initially announced yesterday, December 15, 2020, for an aggregate amount of gross proceeds of $605,000.00.Pursuant to the terms of the private placement, Erin issued 12,100,000 units (\"Units\") at a price of $0.05 per Unit. Each Unit consists of one (1) common share in the capital of the Company and one (1) common share purchase warrant (a \"Warrant\"). Each Warrant will has a two (2) year term (the \"Exercise Period\") and will be exercisable into one (1) common share at a price of $0.075.The Warrants also have an acceleration clause whereby if the Common Shares trade on the TSXV at a price equal or greater than the designated trigger price of $0.10 for more than ten (10) consecutive trading days during the Exercise Period, Erin shall have the right to give written notice to the holder requiring the holder to exercise the Warrant, in whole or in part, within a period of thirty (30) days from the date of receipt of notice from Erin.The net proceeds from this financing will be used to fund further development of its wholly owned Piskanja boron project in Serbia, and for working capital purposes.The offering was conducted on a private placement basis pursuant to prospectus exemptions of applicable securities laws and remains subject to final acceptance by the TSXV. The Common Shares and Warrants comprising the Units will be subject to a four (4)-month and one day hold period in accordance with the policies of the TSXV and applicable securities laws. Three (3) arm's length finders are to be paid an aggregate amount of finders' fees equal to $11,500 in accordance with the rules of the TSXV Corporate Finance Manual.On behalf of the Board of Directors,Blake Fallis, General ManagerAbout Erin VenturesErin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange under the symbol \"EV\" and the OTCQB Venture Market under the symbol \"ERVFF\". For detailed information please see Erin's website at www.erinventures.com or the Company's filed documents at www.sedar.com....