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Eureka Announces Further Amendment to Financing Terms
Vancouver, British Columbia--(Newsfile Corp. - May 12, 2017) - Eureka Resources Inc.  (...
About this update from Kore Mining Ltd.
[{"type":"text","content":"Eureka Announces Further Amendment to Financing TermsVancouver, British Columbia--(Newsfile Corp. - May 12, 2017) - Eureka Resources Inc. (TSXV: EUK) (\"Eureka\" or the \"Company\") announces that it has further amended the terms of its non-brokered private placement financing announced on March 1, 2017 and amended April 7, 2017 (the \"Offering\").The Offering will now consist of: (i) up to 5,000,000 units (each, a \"Unit\") at a price of $0.08 per Unit for gross proceeds of up to $400,000, and (ii) up to 5,000,000 flow-through units (each, a \"Flow-Through Unit\") at a price of $0.09 per Flow-Through Unit for gross proceeds of up to $450,000. Each Unit will consist of one common share in the capital of the Company (each, a \"Share\") and one half of one share purchase warrant (with each whole warrant being, a \"Warrant\"), with each Warrant entitling the holder to acquire one Share at a price of $0.15 per Share for a period of two years from the closing of the Offering. Each Flow-Through Unit will consist of one Share, issued on a \"flow-through\" basis pursuant to the Income Tax Act (Canada) and one half of one Warrant, issued on a non-flow-through basis, with each whole Warrant entitling the holder to acquire one Share at a price of $0.15 per Share for a period of two years from the closing of the Offering. All of the Warrants will be subject to an acceleration clause which will cause the Warrants, if unexercised, to expire on the date which is 30 days after the date that the volume weighted average trading price of the Shares on the TSX Venture Exchange (the \"TSXV\") exceeds $0.25 per Share over a period of 10 consecutive trading days and the Company gives notice by issuing a press release. Finders' fees may be payable in connection with the Offering in accordance with the policies of the TSXV. All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the TSXV. The proceeds of the Offering will be used for exploration of the Company's mineral properties and for working capital purposes. ABOUT EUREKAEureka is an exploration focused company based in Vancouver, Br...