Business
Emgold announces $10,000,000 brokered private placement
Emgold announces $10,000,000 brokered private placement.
About this update from Emergent Metals Corp
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION IN THE U.S./\n\n\nTSX Venture Exchange: EMR\nOTC Bulletin Board: EGMCF\nU.S. 20-F Registration: 000-51411\nFrankfurt Stock Exchange: EML\n\n\nVANCOUVER, June 8 /CNW/ - Emgold Mining Corporation (EMR - TSX Venture)\n(the "Company" or "Emgold") is pleased to announce that it has entered into an\nagreement with M Partners Inc. ("M Partners" or the "Agent"), to act as its\nexclusive lead agent in connection with a brokered private placement offering\n(the "Offering") on a best efforts basis to raise gross proceeds of up to\n$10,000,000 through the offer and sale of units of the Company.\n\n\nThe Company will issue up to 50 million units (the "Units") at a price of\n$0.20 per Unit. Each Unit will comprise one common share and one share\npurchase warrant. Each warrant will entitle the holder to purchase one\nadditional common share for a period of 24 months from closing at an exercise\nof $0.35 per share.\n\n\nThe Agent will receive a cash fee equal to 8% of the aggregate gross\nproceeds of the Offering and compensation warrants exercisable to acquire that\nnumber of units that is equal to 8% of the total number of units sold in the\nOffering, at an exercise price of $0.20 per unit for a period of 18 months\nfrom closing.\n\n\nAll securities issued or issuable in connection with the Offering will be\nsubject to a hold period and may not be traded for four months plus one day\nfrom the date of closing.\n\n\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 available exemption from the\nregistration requirements. This press release shall not constitute an offer to\nsell or the solicitation of an offer to buy nor shall there be any sale of the\nsecurities in any State in which such offer, solicitation or sale would be\nunlawful.\n\n\nThe proceeds of the Offering will be used to complete permitting on the\nCompany's Idaho-Maryland gold project, basic engineering of long lead items\nfor the mine in anticipation of receipt of the permit and for general\ncorporate purposes.\n\n\nThe Company has been working on permitting the Idaho-Maryland Mine in\nGrass Valley, California. The Idaho-Maryland project is entering the f...