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Evrim Closes $4.3 Million Private Placement
Vancouver, British Columbia--(Newsfile Corp. - May 23, 2017) - Evrim Resources Corp. (TSXV: EV...
About this update from Orogen Royalties Incorporation
[{"type":"text","content":"Evrim Closes $4.3 Million Private PlacementVancouver, British Columbia--(Newsfile Corp. - May 23, 2017) - Evrim Resources Corp. (TSXV: EVM) (\"Evrim\" or the \"Company\") announces that, further to its announcements on April 27 and May 1, 2017, the Company has closed the private placement. The Company has issued 14,349,760 units (\"Units\") at a price of $0.30 per Unit for gross proceeds of $4,304,928. Each Unit consisted of one common share and one-half non-transferable share purchase warrant. Each whole warrant (a \"Warrant\") is exercisable into one common share at a price of $0.50 until May 19, 2020.Finder's fees of $179,400 were paid and 598,000 Finder's warrants (\"Finder Warrants\") were issued to Sprott Global Resource Investments, Ltd., Canaccord Genuity Corp., Haywood Securities Inc., and PI Financial Corp. in conjunction with the private placement. Each Finder Warrant is exercisable into one common share at a price of $0.30 until November 19, 2018.Proceeds from the private placement will be used for exploration and working capital purposes. The common shares issued under the private placement, including any common shares issued on exercise of the Warrants and Finder Warrants, will be subject to a four month restricted resale period that expires, with respect to resales in Canada, on September 20, 2017, and applicable securities legislation hold periods outside of Canada.Altius Minerals Corp. (\"Altius\"), Evrim's largest shareholder, acquired 4,000,000 Units of the private placement for an aggregate purchase price of $1,200,000. The acquisition has resulted in Altius beneficially owning an aggregate of 11,452,875 shares, or 17.45% of Evrim's outstanding shares, and 2,000,000 Warrants. In the event Altius exercises its Warrants, Altius would own 13,452,875 shares of Evrim, representing 19.89% of the outstanding Evrim shares determined on a partially diluted basis assuming the exercise of Altius' Warrants but no other convertible securities of Evrim. Altius acquired the Units for investment purposes only and not with a view to materially affecting control of Evrim. Altius' address is Suite 202, 66 Kenmount Road, St. John's NL, A1B 3V7. The foregoing is subject to regulatory acceptance of the TSX Venture Exchange.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securi...