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Eros Closes Private Placement and Provides Update on Flaxcombe Drilling
Eros Closes Private Placement and Provides Update on Flaxcombe Drilling Canada New...
About this update from Trident Resources Corp.
[{"type":"text","content":"\n\n\n\nEros Closes Private Placement and Provides Update on Flaxcombe Drilling\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.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, June 20, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\n\n\nVANCOUVER, June 20, 2017 /CNW/ - Eros Resources Corp. (TSX.V: ERC) (\"Eros\" or the \"Company\") is pleased to announce that it has completed its previously announced non-brokered private placement (the \"Private Placement\") for aggregate gross proceeds of $1,037,880. At the closing yesterday, a total of 6,486,750 units were issued, each at a subscription price of $0.16 per unit, with each unit consisting of one common share of the Company and one-half common share purchase warrant.  Each whole warrant entitles the holder thereof to acquire one common share at a price of $0.25 per common share for a period of 24 months from the date of issuance or at a price of $0.30 per common share for an additional 12-month period. Certain directors, officers and insiders of the Company have participated in the Private Placement and collectively have acquired 2,575,000 common shares under the Private Placement.\n\nProceeds from the Private Placement will be used for general corporate purposes. The Private Placement is subject to TSX Venture Exchange final acceptance. All of the common shares and warrants issued in connection with this financing are subject to a four-month hold period expiring October 20, 2017, in accordance with applicable securities laws.\n\nIn addition, Eros is pleased to advise that its partner and project operator, Westcore Energy Ltd. (\"Westcore\") announced on Friday, June 16, 2017 that it had completed the initial drilling operations on its three well program at Flaxcombe, Saskatchewan. The three well program commenced on June 1, 2017 and drilling was completed on June 14, 2017. The program was designed based on the re-interpretation of a 3D seismic survey that Westcore acquired with the propert...