Eskay Mining Corp Announces First Closing of Non-Brokered PP Monday, June 04, 2018 - 8:00 AM EDT
Eskay Mining Corp Announces First Closing of Non-Brokered Private Placement
Toronto, Ontario
(FSCwire) -
Eskay Mining Corp. (“Eskay” or the “Company”) (TSX-V:ESK) (OTC-PK: ESKYF) (Frankfurt: KN7; WKN: A0YDPM) wishes to announce that, further to its press release dated May 11, 2018, it has closed the first tranche of its non-brokered private placement offering with the sale of 784,000 flow-through units (the “
FT Units”) of the Company at a price of $0.30 per FT Unit for $235,200 and 690,000 working capital units (“
WC Unit”) at a price of $0.25 per WC Unit for $172,500 for aggregate gross proceeds of $407,700 (the “
Offering”). Eligible finders were paid cash finders’ fees of $4,500.
Each FT Unit comprises one (1) common share of the Company and one-half (½) of one (1) common share purchase warrant. Each full warrant (a “Warrant”) entitles the holder to acquire one (1) common share at a price of $0.40 until the earlier of (i) June 1, 2020 (the “Closing”); and (ii) in the event that the closing price of the common shares on the TSX Venture Exchange is at least $0.60 for ten (10) consecutive trading days, and the 10th trading day (the “Final Trading Day”) is at least four (4) months from the Closing, the date which is thirty (30) days from the Final Trading Day (the “Trigger Date”).
Each WC Unit comprises one (1) common share of the Company and one (1) common share purchase warrant (a “WC Warrant”). Each WC Warrant entitles the holder to acquire one (1) common share at a price of $0.40 until the earlier of (i) June 1, 2020; and (ii) the Trigger Date.
All securities issued pursuant to the Offering are subject to a statutory four month hold period expiring on October 2, 2018.
About Eskay Mining Corp:
Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals in British Columbia in a highly prolific, poly metallic area known as the Eskay Rift Belt located in the “Golden Triangle”, 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (130,000 acres).
All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.
For further information, please contact:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.