Source: Element 29 Resources.
  • Element 29 Resources (ECU) has announced a non-brokered private placement for gross proceeds of up to $1,250,000
  • The company will issue up to 6,250,000 units at a price of $0.20 per unit
  • Element 29 intends to use the net proceeds of the offering for the completion of a planned initial mineral resource estimate for the Flor de Cobre project
  • Element 29 Resources Inc. is an emerging copper exploration and development company focused on advancing its portfolio of Peruvian projects
  • Element 29 Resources Inc. opened trading at $0.22 per share

Element 29 Resources (ECU) has announced a non-brokered private placement for gross proceeds of up to $1,250,000.

The company will issue up to 6,250,000 units at a price of $0.20 per unit. Each unit includes one common share and one-half non-transferable share purchase warrant. Each whole warrant will be exercisable for a common share at an exercise price of $0.30 for a period of 2 years from the closing date of the offering.

The company may pay finder’s fees equal to 6 per cent of the gross proceeds raised from subscriptions.

Element 29 intends to use the net proceeds for the completion of a planned initial mineral resource estimate for the Flor de Cobre project and general working capital for the company.

Closing is subject to the conditional acceptance of the TSX Venture Exchange (TSXV). All securities issuable under the offering will be subject to a four-month hold period from the date of closing.

Element 29 Resources Inc. is an emerging copper exploration and development company focused on advancing its portfolio of Peruvian projects toward development in one of the world’s premier mining jurisdictions.

Element 29 Resources Inc. opened trading at $0.22 per share.


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