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| Home : Eskay Closes First Tranche of Financing |
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Apr 15
2013 |
Eskay Closes First Tranche of Financing |
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TORONTO, ONTARIO--(Marketwired - April 15, 2013) - Eskay Mining Corp. ("Eskay" or the "Company") (TSX VENTURE:ESK) is pleased to announce that it has placed 2,900,000 working capital units (the "WC Units") priced at $0.05 per WC Unit for gross proceeds of $145,000.00. Each WC Unit consists of one (1) common share (the "Common Share") and one-half (1/2) of a share purchase warrant (a "WC Warrant"). Each full WC Warrant entitles the holder to acquire a further Common Share of the Company at a price of $0.10 per Common Share until the earlier of: (i) October 12, 2014; and (ii) in the event that the closing price of the Common Shares on the TSX Venture Exchange is at least $0.15 for twenty (20) consecutive trading days, and the 20th trading day (the "Final Trading Day") is at least four (4) months from April 12, 2013, the date which is thirty (30) days from the Final Trading Day (the "Trigger Date"). The Company paid a finders fee of $11,600.00 and issued 232,000 broker options in respect of the sale of the WC Units. Each broker option entitles the holder to acquire a Common Share at the price of $0.10 until the earlier of: (i) October 12, 2014; and (ii) the Trigger Date. The securities are legended and restricted from trading until August 13, 2013. |
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| Source:http://www.marketwire.com/mw/release.do?id=1778688&sourceType=3 |
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