Business
Eureka Resources Amends Terms of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - January 18, 2018) - Eureka Resources Inc. (TSXV...
About this update from Kore Mining Ltd.
[{"type":"text","content":"Eureka Resources Amends Terms of Private PlacementVancouver, British Columbia--(Newsfile Corp. - January 18, 2018) - Eureka Resources Inc. (TSXV: EUK) (\"Eureka\" or the \"Company\") announced today that, further to its press releases of November 27, 2017 and December 29, 2017, it has amended the terms of its previously announced non-brokered private placement of up to $175,000 (the \"Offering\"). The second tranche of the Offering will now consist of up to 2,142,857 common shares (the \"Shares\") at a price of $0.035 per Share, for gross proceeds of up to $75,000.All Shares issued pursuant to the Offering are subject to a four-month hold period from the date of issuance under applicable Canadian Securities laws. The Company intends to allocate the net proceeds from the Offering (subject to the deduction of applicable finder's fees) as follows: Legal and accounting fees - $25,000; Regulatory fees - $10,000; General liabilities - $50,000;Office rent & communication expenses - $5,000; Transfer agent fees - $5,000; Annual General Meeting expenses - $5,000Accrued administrative fees - $25,000; Working capital - $50,000. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the Shares in the United States. The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. ABOUT EUREKAEureka is a mineral exploration company based in Vancouver, British Columbia. Eureka has a 100% interest in the FG Gold property located in the Cariboo Mining Division of British Columbia. Historical exploration has established a Measured and Indicated gold resource of 376,000 ounces at an average grade of 0.776 g/t gold, using a cut-off grade of 0.5 g/t, and an Inferred gold resource of 634,900 ounces at an average grade of 0.718 g/t gold, using a cut-off grade of 0.5 g/t. Details of the gold resource can be found in \"NI 43-101 Technical Report, Frasergold Exploration Project, Cariboo Mining Division, dated July 27, 2015\" available under Eureka's profile on SEDAR or on its website.Eureka has ...