- Ethos Gold (ECC) has closed its non-brokered private placement of flow-through units raising gross proceeds of C$1,333,333
- The offering consisted of 5,555,556 flow-through units priced at $0.24 per unit
- Upon closing of the offering, Crescat Portfolio Management, LLC will own 15,848,456 shares of Ethos
- The private placement is subject to the acceptance of the TSX Venture Exchange
- Ethos Gold Corp is a Canada-based exploration company
- Ethos Gold Corp. (ECC) opened trading at $0.30 per share
Ethos Gold (ECC) has closed its non-brokered private placement of flow-through units raising gross proceeds of C$1,333,333.
The offering consisted of 5,555,556 flow-through units priced at $0.24 per unit. Each unit consists of one flow-through share and one half of one non-flow-through share purchase warrant. Each warrant is exercisable for one common share 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 will own 15,848,456 shares of Ethos, representing approximately 12.7 per cent 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.”
Proceeds will be used 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.
Crescat Capital is a global macro asset management firm headquartered in Denver, Colorado.
Ethos Gold Corp is a Canada-based exploration company. It is engaged in the identification, exploration, and development of economically viable mineral properties.
Ethos Gold Corp. (ECC) opened trading at $0.30 per share.