Emgold Closes Flow-Through and Non-Flow Through Private Placements

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[{"type":"text","content":"Emgold Closes Flow-Through and Non-Flow Through Private PlacementsVANCOUVER, BC / ACCESSWIRE / DECEMBER 30, 2019 / Emgold Mining Corporation (TSXV:EMR)(OTC:EGMCF)(FRA:EMLN) (\"Emgold\" or the \"Company\") announces the closing of flow-through and non-flow-through private placements, with details outlined below.FLOW-THROUGH PRIVATE PLACEMENTThe Company has completed a non-brokered flow-through private placement (the \"FT Financing\") by the issuance of 3,333,333 shares (each a \"FT Share\") of the Company issued at a price of CDN$0.105 per FT Share for gross proceeds of $349,999.97. All FT Shares issued in conjunction with the FT Financing are subject to a statutory four month hold from the date of issuance.The FT Shares will entitle the holder to receive the applicable tax benefits, in accordance with the provisions of the Income Tax Act (Canada). Proceeds of the FT Financing will be used for qualifying exploration on the Company's Canadian properties in Quebec.Finders' Fees of CDN$28,000 were paid in cash and 26,667 warrants (the \"Finders' Warrants\") were issued in conjunction with the FT Financing. The Finders' Warrants will entitle the holder to purchase, for a period of 12 months from the date of issuance, 26,667 additional common shares of the Company at a price of $0.15 per common share.NON-FLOW THROUGH PRIVATE PLACEMENTIn addition, Emgold has completed a non-brokered private placement consisting of 5,066,668 units (\"Units\") of the Company at CDN$0.06 per Unit to raise CDN$304,000.08. 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$0.08 per Share (the \"NTF Financing\"). The Shares to be issued in connection with the NFT 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 NFT Financing is subject to TSX Venture Exchange (the \"Exchange\") approval. No Finder's fees were paid in connection with the NFT Financing. Proceeds will be used for general working capital.About EmgoldEmgold is a junior gold and base metal exploration company focused on strategic acquisitions and exploration in N...

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