Emgold Announces CDN $250,000 Non-Brokered Private Placement

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[{"type":"text","content":"Emgold Announces CDN $250,000 Non-Brokered Private Placement(via Thenewswire.ca)\n \n \nVancouver, BC / TNW-ACCESSWIRE / July 11 2014 / Emgold Mining Corporation (\"Emgold\" or the \"Company\") announces that it intends to conduct a non-brokered private placement to raise gross proceeds of CDN$250,000. This private placement is the third and final tranche of a previously announced CDN $1,000,000 financing with Rawhide Mining LLC (\"RMC\"), as outlined in November 14, 19, 26, and December 28, 2012 and January 30, 2013 press releases. The proceeds from this financing will be used to acquire the remaining 25% interest in the Buckskin Rawhide East Property (the \"Property\") in Nevada and for general working capital. Upon transfer of title, Emgold will obtain a 100% interest in the Property and subsequently lease the Property to RMC. \n\n \n \nThe private placement will involve the issuance of 5,000,000 units (\"Units\") to RMC at a price of CDN$0.05 per Unit. Each Unit consists of one common share (a \"Share\") of the Company and one half of one non-transferable share purchase warrant. Each full warrant will entitle RMC to purchase, for a period of 24 months, one additional Share at a price of CDN$0.10. The Shares are subject to a minimum hold period of four months plus one day. No finder's fees were paid as part of this private placement. \n\n \n \nThe private placement is subject to acceptance of the TSX Venture Exchange. At the conclusion of this financing, RMC will own 17.3 million shares of the Company, or approximately 22% of the issued shares on a non-diluted basis. The Company received shareholder approval for RMC acquiring in excess of 20% ownership pursuant to the financing in December of 2012. \n\n \n \nAbout the Buckskin Rawhide Property\n\n \n \nThe Buckskin Rawhide Property is located in the Rawhide Mining District, about 40 miles southeast of Fallon. It consists of 52 unpatented mineral lode claims totaling approximately 835 acres. It contains occurrences of gold and silver mineralization and was sampled and drilled historically by Kennecott Minerals Company (\"Kennecott\") and others. It is surrounded by RMC's Denton-Rawhide Mine and the Regent Property, both owned by RMC. \n\n \n \nThe Denton-Rawhide Mine was owned and operated by Kennecott from 1988 to 2010. In 2010, the Mine was acquired by RMC, who continued to ...

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