Ethos Gold Corp. (TSX-V: ECC) announces that it has completed a non-brokered private placement of 7,000,000 Flow-Through Units of the Company at a price of C$0.28 per FT Unit for gross proceeds of C$1,960,000.
Each FT Unit consists of one common share of the Company to be issued on a flow-through basis under the Income Tax Act (Canada) and one-half of one non-flow-through common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one non-flow-through common share of the Company at a purchase price of $0.30 per share until December 21, 2020.
The gross proceeds of the FT Offering will be used for further exploration of the Company’s Pine Pass vanadium project located on the John Hart Highway between Mackenzie and Chetwynd, British Columbia.
All securities issued or issuable under the offering are subject to a four-month hold period expiring on April 22, 2019, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada.
Final closing of this Offering is subject to final acceptance by the TSX Venture Exchange.
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