Business
Emgold Announces 7.5 Million Unit Non-Brokered Financing
Emgold Announces 7.5 Million Unit Non-Brokered Financing.
About this update from Emergent Metals Corp
[{"type":"text","content":"\n\n\n\n\n>\n\nVANCOUVER, Aug. 22 /CNW/ - Emgold Mining Corporation (EMR-TSX-V)\n(\"Emgold\") is pleased to announce that it will carry out a non-brokered\nprivate placement of up to 7,500,000 units (the \"Units) at a price of\nCAD $0.60 per Unit for aggregate gross proceeds of up to CAD $4,500,000 (the\n\"Offering\"). Each Unit will be comprised of one common share in the capital of\nEmgold and one-half of one non-transferable share purchase warrant. Each share\npurchase warrant will entitle the holder to purchase one additional common\nshare of Emgold for a period of 24 months from closing, at an exercise price\nof CAD $1.00 per share.\nThe Offering is subject to certain conditions including, but not limited\nto, final documentation and receipt of all necessary approvals to the\ntransaction. Finders' fees of up to 6% of the proceeds of the Offering may be\npayable. All shares, warrants and any shares issued upon exercise of the\nwarrants with respect to the Offering are subject to a hold period and may not\nbe traded for four months plus one day from the date of issuance.\nThe securities offered have not been registered under the United States\nSecurities Act of 1933, as amended, and may not be offered or sold in the\nUnited States absent registration or an applicable exemption from the\nregistration requirements. This press release is not an offer of securities\nfor sale in the United States or Canada. These securities may not be offered\nor sold in the United States or Canada absent registration or qualification or\nan exemption from registration or qualification. Any public offering of\nsecurities to be made in the United States and Canada will be made by means of\na prospectus that may be obtained from Emgold and that will contain detailed\ninformation about Emgold and management, as well as financial statements.\nProceeds from the Offering will be used to fund further exploration,\npermitting and development of the Company's Idaho-Maryland project in Grass\nValley, California, on-going development and commercialization of the\nCeramext(TM) process, exploration of Emgold's properties in British Columbia\nand for general working capital. Expenses for the Idaho-Maryland project\ninclude the activities associated with the applications for a Mine Use Permit,\non-going geologic investigations and exploration, mine planning and ...