Friday, August 12, 2022
Google search engine
HomeMongolia NewsErdene Completes $7.2M Private Placement Led by Investment

Erdene Completes $7.2M Private Placement Led by Investment

HALIFAX, Nova Scotia, July 21, 2022 (GLOBE NEWSWIRE) — Erdene Resource Development Corporation (TSX:ERD | MSE:ERDN) (“Erdene” or the “Company”) is pleased to announce completion of the previously announced non-brokered private placement, raising gross proceeds of $7,180,106, led by a $2 million investment from Mr. Eric Sprott (the “Offering”).

Pursuant to the Offering, Erdene sold 23,933,687 units of the Company (the “Units”) at a price of $0.30 per Unit. Each Unit consists of one common share and one-half (½) of one common share purchase warrant (the “Warrant”). Warrants are exercisable by the holder into one common share of the Company within two years of the closing date, at a price of $0.45 per share. Erdene will pay finder’s fees of $151,048 and will issue 236,826 finder’s warrants in connection with the Offering. The finder’s warrants are exercisable on the same terms as the unit Warrants.

Proceeds of…

Read more…

RELATED ARTICLES
- Advertisment -
Google search engine

Latest Posts