entree arranges financingQ Entree Gold Inc
Symbol ETG
Shares Issued 16,718,000
Close (2002-11-08) 0.40
Entree Gold arranges $875,000 private placement
2002-11-12 12:21 PT - News Release
Mr. Gregory Crowe reports
ENTREE ANNOUNCES PRIVATE PLACEMENT
Entree Gold has entered into an agreement with Canaccord Capital Corp., acting as agent, for a private placement of up to 2.5 million units, at a price of 35 cents per unit, for gross proceeds of up to $875,000. Each unit consists of a common share and one-half of a share purchase warrant. Each whole warrant will entitle the holder to purchase an additional common share for one year at 40 cents per share. The agreement with Canaccord provides that a portion of the private placement may be completed by Entree on a non-brokered basis, without commission. The transaction is subject to receipt of all necessary regulatory and stock exchange approvals.
The proceeds of the private placement will be used to finance Entree's exploration activities and obligations in respect of its Shivee Tolgoi (Lookout Hill) gold-copper property, South Gobi region, Mongolia.
Top Print this Page