88 Capital Corp. Announces Non-Brokered Private Placement
Vancouver, British Columbia (FSCwire) - 88 Capital Corp. (TSX.V: EEC) (the
"Company") is pleased to announce that it intends to complete a non-brokered private placement (the “Placement”) of up to
6,250,000 Units priced at $0.08 per Unit for total gross proceeds of up to $500,000. Each Unit will consist of one common share
and one half of one share purchase warrant (“Warrant”), each Warrant being exercisable to acquire one common share of the Company
at a price of $0.25 for a period of 36 months following the closing date of the Placement. Proceeds from this financing shall be
used for investigating project acquisitions and general corporate purposes.
It is anticipated that insiders of the Company will also participate in the private placement on the same terms and
conditions as arm's length subscribers. The Company may pay finder's fee [payable in cash and in finder's warrants (the "Finder's
Warrants")] in connection with the financing. The Finder's Warrants will be exercisable on the same terms as the Warrants.
Completion of the private placement is subject to certain conditions, including the approval of the TSX Venture
Exchange ("TSXV"). All securities issued as part of the private placement will be subject to a hold period of four months from
the date of issuance of the securities.
On behalf of the Board of Directors
88 CAPITAL CORP.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release may contain forward-looking statements including, but not limited to, comments regarding the
timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, etc.
Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such statement.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/88capital06082016.pdf
Source: 88 Capital Corp. (TSX Venture:EEC)
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