Eskay Completes Private Placement
07 Outubro 2011 - 8:00AM
Marketwired
Eskay Mining Corp. ("Eskay" or the "Company") (TSX VENTURE:ESK) is
pleased to announce that the Company has completed the final
tranche of its private placement.
Eskay has issued 186,626 units (the "Units") priced at $0.11 per
Unit for gross proceeds of $20,528.92. Each Unit consists of one
(1) common share (the "Common Share") and one-half (1/2) of a share
purchase warrant (a "Warrant"). Each full Warrant entitles the
holder to acquire a further Common Share of the Company at a price
of $0.20 per Common Share until the earlier of: (i) the date which
is twelve (12) months following closing; and (ii) in the event that
the closing price of the Common Shares on the TSX Venture Exchange
is at least $0.30 for ten (10) consecutive trading days, and the
10th trading day (the "Final Trading Day") is at least four (4)
months from the closing date, the date which is thirty (30) days
from the Final Trading Day.
A total of 7,280 broker warrants to acquire Common Shares at a
price of $0.20 per share for a period of twelve (12) months from
closing were issued in relation to this closing. All of the
securities referred herein are legended and restricted from trading
until at least February 7, 2012. The issued and outstanding capital
is 89,918,555 after the above mentioned issuance of shares.
About Eskay Mining Corp:
Eskay Mining Corp (TSX VENTURE:ESK) is a TSX Venture Exchange
listed company, headquartered in Toronto, Ontario. Eskay is an
exploration company focused on the exploration and development of
precious and base metals in British Columbia in a highly prolific,
poly metallic area known as the Eskay Rift Belt located in the
"Golden Triangle", 70km northwest of Stewart, BC. The company
currently holds mineral tenures in this area comprised of 177
claims (130,000 acres).
All material information on the Company may be found on its
website at www.searchminerals.ca and on SEDAR at sedar.com.
Cautionary Statement:
The following presentation may include certain "forward-looking
statements" within the meaning of the United States Private
Litigation Reform Act of 1995 and applicable Canadian Securities
Laws. All statements other than statements of historical fact,
included in the presentation, including without limitation,
statements regarding potential mineralization and reserves,
exploration results, and future plans and objectives of Search
Minerals, are forward-looking statements. Words such as "expect",
"anticipate", "estimate", "may", "will", "should", "intend",
"believe" and other similar expressions are forward-looking
statements. Forward-looking statements are not guarantees of future
results and conditions but rather reflect our current views with
respect to future events and are subject to risks, uncertainties,
assumption and other factors, and actual results and future events
could differ materially from those anticipated in such statements.
There can be no assurance that such forward-looking statements will
prove to be accurate. We base our forward-looking statements on
information currently available to us and we do not assume any
obligation to update them, except as required by law.
An additional Cautionary Note to Investors: In the event that we
use certain terms in this presentation such as "resource",
"measured resource", "indicated resource" and "inferred resource".
US investors are cautioned that, while such terms are recognized
and required by Canadian Securities Laws, the United States
Securities and Exchange Commission does not recognize them. Under
U.S. standards, mineralization may not be classified as a "reserve"
unless the determination has been made that the mineralization
could be economically and legally produced or extracted at the time
the reserve determination has been made. U.S. investors should not
assume that all or any part of measured or indicated resources will
ever be converted into reserves. In addition, "inferred resources"
have a greater amount of uncertainly as to their existence and as
to whether they can be mined legally or economically. Accordingly,
information concerning descriptions of mineralization in the
presentation may not be comparable to information made public by
companies that are subject to the SEC's Industry Guide 7.
For further details of the Company's procedures and policies for
data verification, the reader is referred to the Company's news
releases and other material information available on the Company's
website at www.eskaymining.com or on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility of the adequacy or
accuracy of this release.
Contacts: Eskay Mining Corp. Mac Balkam President & Chief
Executive Officer 416 907 6151macbalkam@aol.com Eskay Mining Corp.
Joanne Jobin Investor Relations Manager 647 964
2092info@eskaymining.com
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