The Prospector News

Elgin Mining Closes Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Elgin Mining Closes Private Placement

 

 

 

 

 

 

Elgin Mining Inc. (TSX:ELG)(TSX:ELG.WT) is pleased to announce, further to its news release of August 27, 2013, that it has completed the private placement offering and issued an aggregate of 24,600,000 units at a price of $0.12 per Unit for aggregate gross proceeds of $2,952,000. Each Unit consists of one common share of Elgin Mining and one-half of one warrant. Each whole warrant is exercisable into one Common Share at a price of $0.20 for a period of two years from the date of issuance, subject to acceleration of the expiry date if the common shares of the Company trade above $0.30 for twenty consecutive trading days. All securities issued in the Offering are subject to a hold period expiring January 14, 2014.

 

A cash fee in the amount of $127,200 will be paid to an arms-length third party in connection with the sale of a portion of the Units.

 

The net proceeds of the Offering will be used primarily for working capital and for general and administrative purposes.

 

Elgin Mining Inc.

 

Elgin Mining is a Canadian based company focused on production at the Bjorkdal gold mine in Sweden. In addition, Elgin Mining’s portfolio includes the Lupin and Ulu gold projects located in Nunavut, Canada.

Posted September 17, 2013

Share this news article

MORE or "UNCATEGORIZED"


Fireweed Intersects Three Distinct High-Grade Zinc Zones Including 23.77% Zinc, 3.44% Lead, and 75.7 g/t Silver Over 10.42 m in New Zone at Boundary West

FIREWEED ZINC LTD. (TSX-V: FWZ) is pleased to announce the result... READ MORE

September 16, 2021

Three more holes intersect mineralized porphyry at Brama target, Bramaderos Project, Ecuador, paving way for maiden Mineral Resource Estimate in early 2022

Assays include 69.6m at 0.65g/t gold and 0.2% copper  ... READ MORE

September 16, 2021

Labrador Gold Intersects 128.51 g/t Gold Over 1.12 Metres at Big Vein, Kingsway Project

Labrador Gold Corp. (TSX-V:LAB) (OTCQX:NKOSF) (FNR:... READ MORE

September 16, 2021

Pan Global Continues to Expand the near Surface Copper-Tin Discovery at the Escacena Project, Southern Spain

Highlights include: 6.5m at 2.52% CuEq (2.27% Cu, 8.1g/t Ag) from... READ MORE

September 16, 2021

Drilling at Galloway Continues to Provide Good Mineralized Intersections

Fokus Mining Corporation (TSX-V: FKM) (OTCQB: FKMCF) (FSE: F7E1) ... READ MORE

September 16, 2021

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2021 The Prospector News