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TORONTO, ONTARIO--(Marketwire - Oct. 15, 2010) - St. Eugene Mining Corporation Ltd. (TSX VENTURE:SEM) ("St. Eugene" or the "Company") announces the closing of a non-brokered private placement offering of an aggregate gross proceeds of $1,168,008. The Company issued 6,250,066 Units at a price of $0.12 per Unit for gross proceeds of $750,008. Each of these Units are comprised of one flow-through common share and one-half of one non-flow through Purchase Warrant. Each full Purchase Warrant entitles the holder to acquire one non-flow through common share of the Company at a price of $0.16 per share for 15 months from closing, or earlier pursuant to the acceleration terms set out below. |
