The Prospector News

Eastmain Resources Inc. Completes Previously Announced Private Placement Financing

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Eastmain Resources Inc. Completes Previously Announced Private Placement Financing

 

 

 

 

 

Eastmain Resources Inc. (TSX:ER) announces that it has completed the first tranche of its previously announced non-brokered private placement pursuant to which it has issued 9,500,000 flow-through common shares at $0.50 per FT Share and 999,999 units at $0.35 per Unit for aggregate gross proceeds of approximately $5,100,000. Each Unit consists of one common share of Eastmain and one-half of one transferable common share purchase warrant. Each Warrant is exercisable to acquire one additional common share of Eastmain at an exercise price of $0.50 per Warrant for a period of 30 months following the date hereof.

 

 

The tranche of the Private Placement with Integra Gold Corporation is expected to close following Eastmain’s annual and special meeting of shareholders scheduled for April 29, 2016 and satisfaction of customary closing conditions, including receipt of all required regulatory approvals.

 

 

The subscribers under the tranche of the Private Placement that closed today include a director of Eastmain, who has purchased 14,285 Units and up to 40,000 FT Shares. In addition, Eastmain paid a finder’s fee to Secutor Capital Management Corp. of approximately $304,500 in connection with the Private Placement.

 

 

All securities issued pursuant to the Private Placement are subject to a hold period expiring on August 12, 2016.

 

 

About Eastmain Resources Inc.

 

Eastmain is a Canadian exploration company with 100% interest in the Eau Claire and Eastmain gold deposits, both of which are located within the James Bay District of Québec. Eau Claire, the Company’s core asset, has superior infrastructure within a favourable jurisdiction and is royalty free. Eastmain also holds a pipeline of exploration projects in this new Canadian mining district. In October, Eastmain was presented with the “Discovery of the Year 2015” award by the Association de l’exploration minière du Québec for its contributions to the development of Québec’s mining exploration industry.

 

Posted April 11, 2016

Share this news article

MORE or "UNCATEGORIZED"


Orsu Metals Closed Two Concurrent Private Placements Raising C$1.44 Million

Orsu Metals Corporation (TSX-V:OSU) is pleased to announce it has... READ MORE

November 8, 2019

Balmoral Welcomes Strategic Investment from Mr. Eric Sprott, Closes Final Tranche of Non-Brokered Private Placement for Total Gross Proceeds of $3.5 Million

Balmoral Resources Ltd. (TSX:BAR) announces that it has closed th... READ MORE

November 8, 2019

Monument Announces Drill Program Results at Selinsing Gold Mine Pit 4

Monument Mining Limited (TSX-V: MMY) (FSE: D7Q1) is pleased to an... READ MORE

November 8, 2019

Intercontinental Gold and Metals Ltd. Reports Record Gold Exports for Q3 2019; Revenue increased by 286% to $136.0M versus $35.2M in the Q3 2018

Intercontinental Gold and Metals Ltd. (TSX-V: ICAU) (OTC: GXMLF) ... READ MORE

November 8, 2019

AMEX Announces Closing of C$8 Million Bought Deal Private Placement

Amex Exploration Inc. (TSX-V: AMX) is pleased to announce that it... READ MORE

November 8, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions