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Eminent To Raise $5 Million Led by Strategic Investor, Kinross Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 7, 2025) - Eminent Gold Corp. (TSXV: EMNT)...
About this update from Eminent Gold Corp.
[{"type":"text","content":"Eminent To Raise $5 Million Led by Strategic Investor, Kinross Gold Corp.Vancouver, British Columbia--(Newsfile Corp. - April 7, 2025) - Eminent Gold Corp. (TSXV: EMNT) (FSE: 7AB) (the \"Company\" or \"Eminent\") is pleased to announce a non-brokered private placement (the \"Offering\") for up to $5,000,000. Pursuant to the Offering, if fully subscribed to, the Company will issue 12,500,000 units at a price of $0.40 per unit. Kinross Gold Corporation (TSX: K) (\"Kinross\") has committed to acquiring an equity position of 9.9% of the Company's issued and outstanding common shares as part of this financing. Paul Sun, President and CEO of the Company commented:\"After dedicating over five years to the Hot Springs Range Project, we are excited to announce a key development for Eminent with the undertaking of a 9.9% equity stake by a major gold mining company. The launch of this Offering, paired with recent results from the Getchell trend analogue, strengthens the case for the exceptional potential of HSRP, showcasing multiple large-scale gold exploration opportunities in Nevada. These funds will allow us to advance drilling efforts at HSRP, along with our newly acquired Celts project, an analogue to Silicon, accelerating us toward our objective of delivering significant value to shareholders during a gold breakout in one of the world's premier jurisdictions.\"Each unit will consist of one common share of the Company and one-half of one common share purchase warrant (the 'Warrant'). Each whole Warrant will entitle the holder to acquire one additional common share at a price of $0.70 for a period of 24 months from the date of issuance. The proceeds of the private placement are for the Company's general working capital, payment of property holding costs and for exploration activities. Approximately $2.5 million of the proceeds will be allocated to completion of (i) 1,000 meters of core drilling at Hot Springs Range Project to follow up on the results from drill hole HSC002; and (ii) 750 meters of core drilling at the Celts Project to follow up on the results of the 2025 IP Resistivity survey. Closing of the private placement is subject to the approval of the TSX Venture Exchange and the Company may pay finders fees upon closing of the Offering.Closing of Kinross' investment in the Company is conditional on the execution of an Investor ...