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TSX Venture Exchange: EMR
OTC Bulletin Board: EGMCF
U.S. 20-F Registration: 000-51411
Frankfurt Stock Exchange: EML
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VANCOUVER, Aug. 22 /CNW/ - Emgold Mining Corporation (EMR-TSX-V)
("Emgold") is pleased to announce that it will carry out a non-brokered
private placement of up to 7,500,000 units (the "Units) at a price of
CAD $0.60 per Unit for aggregate gross proceeds of up to CAD $4,500,000 (the
"Offering"). Each Unit will be comprised of one common share in the capital of
Emgold and one-half of one non-transferable share purchase warrant. Each share
purchase warrant will entitle the holder to purchase one additional common
share of Emgold for a period of 24 months from closing, at an exercise price
of CAD $1.00 per share.
The Offering is subject to certain conditions including, but not limited
to, final documentation and receipt of all necessary approvals to the
transaction. Finders' fees of up to 6% of the proceeds of the Offering may be
payable. All shares, warrants and any shares issued upon exercise of the
warrants with respect to the Offering are subject to a hold period and may not
be traded for four months plus one day from the date of issuance.
The securities offered have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements. This press release is not an offer of securities
for sale in the United States or Canada. These securities may not be offered
or sold in the United States or Canada absent registration or qualification or
an exemption from registration or qualification. Any public offering of
securities to be made in the United States and Canada will be made by means of
a prospectus that may be obtained from Emgold and that will contain detailed
information about Emgold and management, as well as financial statements.
Proceeds from the Offering will be used to fund further exploration,
permitting and development of the Company's Idaho-Maryland project in Grass
Valley, California, on-going development and commercialization of the
Ceramext(TM) process, exploration of Emgold's properties in British Columbia
and for general working capital. Expenses for the Idaho-Maryland project
include the activities associated with the applications for a Mine Use Permit,
on-going geologic investigations and exploration, mine planning and design,
property acquisitions and public outreach activities. The further development
of the Ceramext(TM) process includes research and development, operation of
the pilot plant, design and construction of a demonstration plant, marketing
studies, feasibility and protection of intellectual property. Additional
testing of the Ceramext(TM) process is being conducted on other feed materials
for a wide range of new applications.
For more information about Emgold, the Stewart, Rozan and Jazz Properties
in British Columbia, the Idaho-Maryland Project in California and the
Ceramext(TM) Process, please visit www.emgold.com or www.sedar.com.
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On Behalf of the Board of Directors,
William J. (Bill) Witte, P.Eng.
President and Chief Executive Officer
No regulatory authority has approved or disapproved the information
contained in this news release.
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