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Emgold Closes First Tranche of Flow-Through Private Placement for $575,200
(via TheNewswire) Vancouver, British Columbia / TheNewswire / December 31, 2018 - Emgol...
About this update from Emergent Metals Corp
[{"type":"text","content":"Emgold Closes First Tranche of Flow-Through Private Placement for $575,200(via TheNewswire)\n\n \n \n\nVancouver, British Columbia / TheNewswire / December 31, 2018 - Emgold Mining Corporation (TSX-V:EMR; OTC:EGMCF; Frankfurt:EMLN) (\"Emgold\" or the \"Company\") announces that it is carrying out a non-brokered flow-through private placement of up to 6,000,000 units (\"FT Units\") of the Company at CDN$0.13 per Unit to raise up to CDN$780,000. Each Unit will consist of one common share issued as a flow-through share (a \"FT Share\") of the Company and one half non-transferable share purchase warrant (a \" Warrant\"). Each full Warrant will entitle the holder to purchase, for a period of 24 months from the date of issuance, one common share (a \"Share\") of the Company at a price of CDN$0.25 per Share (the \"Financing\"). \n\n\n\nThe FT Shares issued in connection with this Financing, including the Shares issued upon exercise of the Warrants, will be subject to a minimum hold period of four months. The Financing is subject to TSX Venture Exchange (the \"Exchange\") approval. Finder's fees will be payable in connection with some or all of the offering in accordance with Exchange policies. The FT Shares will entitle the holder to receive the applicable tax benefits, in accordance with the provisions of the Income Tax Act (Canada). \n\n\n\nEmgold Closes First Tranche of Flow-Through Financing\n\n\n\nEmgold announces that it has closed a first tranche of the Financing and will issue 4,424,615 FT Units for gross proceeds of $575,199.95. In connection with the Financing, the Company will pay finder's fees to arm's length third parties consisting of $34,016.00 in cash and 123,200 compensation warrants, bearing the same terms as the Warrants described hereinabove. Emgold may elect to complete an additional tranche of the Financing in January 2019.\n\n\n\nProceeds of the Financing will be used for qualifying exploration on the Casa South Property, Quebec. As announced by press release on December 14, 2018. Emgold has signed an Assignment Agreement allowing it to acquire up to a 91% interest in the Casa South Property (the \"Transaction\"), located adjacent to the Hecla Mining Corporation's Casa Berardi Mine. The Transaction is subject to Exchange approval, which Emgold is in the process of obtaining. \n\n\n\nAbout Emgold\n\n\n\nEmgold is ...