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Ethos Gold bekommt weiteres Geld von Crescat. Crescat erhöht die Position auf 12,7 %.
Ethos Closes $1.33 Million Private Placement - Crescat Capital Increases Interest to 12.7%
Vancouver, British Columbia--(Newsfile Corp. - June 8, 2021) - Ethos Gold Corp. (TSXV: ECC) (OTCQB: ETHOF) (FSE: 1ET) ("Ethos" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement of flow-through units raising gross proceeds of C$1,333,333 (the "Private Placement").
The Private Placement consisted of 5,555,556 flow-through units priced at $0.24 per unit (each, a "Unit"). Each Unit consists of one flow through share, and one half of one non-flow through common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable into one common share of the Company at an exercise price of $0.30 for a period of two years.
Immediately following the closing of the Private Placement, Crescat Portfolio Management, LLC ("Crescat") owns 15,848,456 shares of Ethos, representing approximately 12.7% of the issued and outstanding shares of the Company.
"We see our investment in Ethos as a stake in multiple high-quality projects across Canada that will be explored by a tier one team led by well renowned geologist, Rob Carpenter," commented Dr. Quinton Hennigh, technical advisor to Crescat Capital. "The Company recently announced commencement of drilling at its Perk-Rocky porphyry copper-gold project in BC, but this is just the beginning of a long list of exploration objectives this year. Work is soon slated for multiple projects in Ontario, Quebec and Newfoundland. We look forward to seeing the company become one of the most aggressive gold explorers in Canada. Aggressive exploration results in discovery."
The Private Placement constitutes a related-party transaction as defined under Multilateral Instrument 61-101 as there are certain insiders participating. Because the Company's shares trade only on the TSX Venture Exchange, the issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 and exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(a) and 5.7(b) of MI 61-101.
The gross proceeds of the Private Placement will be used by the Company to incur "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" within the meaning of the Income Tax Act (Canada).
The Private Placement is subject to the acceptance of the TSX Venture Exchange and all securities issued or issuable under the Private Placement are subject to a 4-month hold period expiring on October 9, 2021 |
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