ENP Newswire -
Release date- 04072014 -
The Company has raised
Each NFT Unit comprises one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional non-flow-through common share at a price of
The warrants are subject to an accelerated expiry date, which comes into effect when the trading price of the Company's shares closes at or above
Each FT Unit comprises one flow-through or one BC super flow-through common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional non-flow-through common share at a price of
Aggregate insider participation in the two tranches of this private placement is the purchase of 2,000,000 NFT Units.
On the final tranche of this private placement the Company paid finder's fees of
Use of Proceeds
NFT Unit proceeds from this financing will be used for continued marketing of the gold concentrate production opportunity at the Company's 100% owned
FT Unit proceeds will be used to conduct a nominal program of soil sampling, geological mapping and prospecting on the
The Company has recently consolidated its land position at
Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, but are not limited to, statements with respect to contemplated financings, use of proceeds of financings, reorganizations and exploration, development and production activities.
These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.
Such factors include, among others, the timing and completion of contemplated financings, the actual use of proceeds, receipt of regulatory approvals, the completion of reorganizations and the timing and success of future exploration, development and production activities.
In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of its mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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