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Emgold Announces Private Placement, Closes First Tranche, and Provides Updates
(via TheNewswire) March 8, 2019 / TheNewswire / Vancouver, British Columbia - Emgold ...
About this update from Emergent Metals Corp
[{"type":"text","content":"Emgold Announces Private Placement, Closes First Tranche, and Provides Updates(via TheNewswire)\n\n \n \n\nMarch 8, 2019 / TheNewswire / Vancouver, British Columbia - Emgold Mining Corporation (TSX-V: EMR) (\"Emgold\" or the \"Company\") announces that it plans to carry out a non-brokered private placement of up to 12,500,000 units (\"Units\") of the Company at CDN$0.12 per Unit to raise up to CDN$1,500,000. Each Unit will consist of one common share (a \"Share\") of the Company and one non-transferable share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder to purchase, for a period of 24 months from the date of issuance, one additional Share of the Company at a price of CDN$0.17 per Share (the \"Financing\"). The Shares to be issued in connection with the Financing, including the Shares to be issued upon exercise of the Warrants, will be subject to a minimum statutory hold period of four months. The Financing is subject to TSX Venture Exchange (the \"Exchange\") approval. Finder's fees may be payable in connection with some or all of the Financing in accordance with Exchange policies. \n\n\n\nEmgold Closes First Tranche of Financing\n\n\n\nEmgold further announces it has closed this day a first tranche of the Financing and will issue 5,447,900 Units for gross proceeds of CDN$653,748. No finders' fees were paid in connection to this first tranche of the Financing. Proceeds of the Financing will be used for general working capital purposes, acquisition, and exploration of Emgold's properties in Quebec and Nevada, including the Casa South Property which Emgold is in the process of optioning.\n\n\n\nCasa South Property Option Update\n\n\n\nOn December 13, 2018, the Company announced it had completed an assignment agreement allowing it to option and acquire up to a 91% interest in the Casa South Property, Quebec. The Company has completed a Definitive Agreement with Greg Exploration Inc. and Affiliates (collectively referred to as the \"Vendors\"). Emgold and the Vendors are in the process of completing a NI 43-101 Technical Report on the Property and meeting other Exchange requirement to obtain approval of the transaction from the Exchange. The Casa South Property is south of and adjacent to Hecla Mining Corporation's (NYSE: HL)(\"Hecla\") operating Casa Berardi Mine. According to Hecla's November 21, 2019 pre...