Business
Eureka Resources Closes Second Tranche of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - January 23, 2018) - Eureka Resources Inc. (TSX...
About this update from Kore Mining Ltd.
[{"type":"text","content":"Eureka Resources Closes Second Tranche of Private PlacementVancouver, British Columbia--(Newsfile Corp. - January 23, 2018) - Eureka Resources Inc. (TSXV: EUK) (\"Eureka\" or the \"Company\") announced today that is has closed the second and final tranche of its non-brokered private placement of common shares previously announced in press releases dated November 27, 2017, December 29, 2017 and January 18, 2018 (the \"Offering\").Eureka placed 4,000,000 common shares in the first tranche of the Offering at $0.025 per share for gross proceeds of $100,000. In connection with closing the first tranche, the Company paid finder's fees of $4,550. Company insiders purchased 1,500,000 of the shares in the first tranche of the Offering.Eureka placed 750,000 common shares in the second tranche of the Offering at $0.035 per share for gross proceeds of $26,250. In connection with closing the second tranche, the Company paid finder's fees of $367. Company insiders purchased 600,000 of the shares in the second tranche of the Offering.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. For shares issued in the second tranche of the Offering, the hold period will expire on May 24, 2018.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 - $26,250;Office rent & communication expenses - $5,000; Transfer agent fees - $5,000; Annual General Meeting expenses - $5,000Working 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 Br...