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"


Romios Gold Identifies Two New Folded Banded Iron Formations on the Lundmark-Akow Lake Project in NW Ontario

Romios Gold Resources Inc. (TSX-V:  RG) (OTCQB: RMIOF) (FSE: D4... READ MORE

October 18, 2021

Element 29 Drills 383.75 Metres of 0.71% CUEQ at the Elida Copper Project

Element 29 Resources Inc. (TSX-V: ECU) (OTCQB: EMTRF)  is please... READ MORE

October 18, 2021

Consolidated Uranium Announces Proposed Spin-Out of Labrador Uranium Inc., Creating a New Labrador Focused Uranium Explorer and Developer

Exercises Option on the Moran Lake Uranium and Vanadium Project L... READ MORE

October 18, 2021

Radisson reports high grade gold intercepts including 34.71 g/t Au over 3.90 m and 7.55 g/t Au over 10.50 m from resource expansion drilling along trend #1 at the O’Brien project

Radisson Mining Resources Inc. (TSX-V: RDS) (OTC: RMRDF):  is pl... READ MORE

October 18, 2021

Infill Drilling at O3 Mining's Marban Project Intersects 5.7 g/t Gold Over 14.5 Metres

O3 Mining Inc. (TSX-V: OIII) (OTCQX: OIIIF) is pleased to provid... READ MORE

October 18, 2021

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

Government of Canada Supported
Copyright 2021 The Prospector News