Pigs at the trough.Well, at least we know why the price has collapsed and I was able to pick up a ton of shares cheap. Of course it would have been better to be a close friend of the company. Why should they have to buy on the open market? And here we all thought the company was making lots of money from their placer gold that could fund all their exploration expenses. Sometimes greedy people never have enough.
Erin Ventures arranges $240,000 private placement
2008-04-01 19:26 ET - News Release
Mr. Blake Fallis reports
ERIN VENTURES ANNOUNCES PRIVATE PLACEMENT
Erin Ventures Inc. proposes to carry out a private placement of four million units at a price of six cents per unit, for total proceeds of $240,000. Each unit will consist of one common share and one share purchase warrant. Each warrant will have a term of two years and an exercise price of 10 cents per share in the first year and 15 cents per share in the second year. This private placement is fully subscribed, but is subject to approval of the TSX Venture Exchange. Finders' fees of up to 10 per cent may be paid with respect to this private placement. The proceeds of this placement will be used for working capital purposes and to finance exploration activities on the corporation's mineral properties.