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Eureka Closes Second Tranche of Private Placement
Eureka Closes Second Tranche of Private Placement Eureka Closes Second Tranche of ...
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[{"type":"text","content":"\n\n\n\nEureka Closes Second Tranche of Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nEureka Closes Second Tranche of Private Placement\nCanada NewsWire\nVANCOUVER, May 6, 2016\n\n\n\n\n\n\n/NOT FOR DISSEMINATION TO THE US/\n\n\n\nVANCOUVER, May 6, 2016 /CNW/ - Eureka Resources Inc. (\"Eureka\" or the \"Company\") (TSXV: EUK) announced today that it has closed the second tranche of its non-brokered private placement of units (the \"Units\") at $0.075 per Unit (the \"Offering\") announced on March 7, 2016.  Each Unit consisted of one common share and one common share purchase warrant (a \"Warrant\").  Each Warrant entitled the holder to purchase one common share at $0.125 for a period of 24 months.\n\nEureka placed 2,693,666 Units in the first tranche of the Offering for gross proceeds of $202,025.  The Warrants issued in the first tranche of the Offering expire on April 29, 2018.  In connection with closing the first tranche of the Offering, the Company paid finder's fees of 7% cash totaling $12,285 and issued 163,800 finder's warrants (a \"Finder's Warrant\") representing 7% of the Units placed by the finders. Each Finder's Warrant entitled the holder to purchase a Unit at $0.075 per Unit until April 29, 2018. \n\nEureka placed 2,033,334 Units in the second tranche of the Offering for gross proceeds of $152,500. The Warrants issued in the second tranche of the Offering expire on May 6, 2018.  In connection with closing of the second tranche of the Offering, the Company paid finder's fees of 7% cash totaling $6,475 and issued 86,333 finder's warrants representing 7% of the Units placed by the finders. Each Finder's Warrant will entitle the holder to purchase a Unit at $0.075 per Unit until May 6, 2018. \n\nAll share purchase warrants issued under the Offering, including those issued as finder's fees, 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...