Business
Etruscus Resources Prepares for 2021 Exploration Season and Closes $1 Million Tranche of Private Placement
VANCOUVER, BC, June 9, 2021 /CNW/ - Etruscus Resources Corp. (CSE: ETR) (OTC: ETRUF) (FSE: ERR) (the "Company" or "Etruscus") announces that the Company has com
About this update from Etruscus Resources Corp.
[{"type":"text","content":" VANCOUVER, BC, June 9, 2021 /CNW/ - Etruscus Resources Corp. (CSE: ETR) (OTC: ETRUF) (FSE: ERR) (the \"Company\" or \"Etruscus\") announces that the Company has commenced preparation for the upcoming 2021 exploration season at its Rock & Roll and Sugar Properties located in northwest British Columbia's prolific Golden Triangle region. The Company has signed contracts with all key service providers relating to this year's Phase 1 program and expects to mobilize crews to the properties in the coming weeks. Gordon Lam, President and CEO, commented, \"With three new and exciting targets discovered on claims that we staked, we are eager to launch our 2021 season with a field program focused on the Lightning Strike Corridor. With the requisite contracted services secured and program details nearly complete, management expects to mobilize crews early July, to correlate with favourable weather patterns at the project. We are confident we will execute our exploration season in a timely manner, return results as quickly as possible with the objective to develop and commence a second phase work program, as seasonality permits.\" The Company also announces that, subject to Canadian Securities Exchange (\"CSE\") approval, it has closed, to date, $1,000,025 of its non-brokered private placement first announced on April 26, 2021. The Company issued a total of 1,608,334 non-flow-through units at $0.30 per unit for proceeds of $482,500 and 1,478,644 flow-through units at $0.35 per unit for proceeds of $517,525. Flow-through funds will be used for continued exploration of the Company's Rock & Roll and Sugar Properties and the non-flow-through funds will be used for both exploration and general working capital. A final tranche is also expected to close this month. Each $0.30 non-flow-through unit consists of one common share and one-half (½) of one share purchase warrant. Each whole Warrant entitles the holder to purchase one additional common share at a price of $0.40 per share for a 2-year period. Each $0.35 flow-through unit consists of one flow-through common share and one-half (½) of one non-flow-through share purchase warrant. Each whole Warrant entitles the holder to purchase one additional common share at a price of $0.45 per share for a 2-year period. All securities issued are subject to a four month ...