RSS SubscribeMay 15, 2023
EGR Exploration Ltd. (TSX-V:EGR) (“EGR” or the “Company“) is pleased to announce that the non-brokered private placement announced on April 4, 2023 has been closed. The private placement consists of 6,818,182 units of the Company (the “Units“) at a price of C$0.11 per Unit and 1,428,572 flow-through units of the Company (the “Flow-Through Units“) at a price of C$0.14 per Flow-Through Unit for gross proceeds to the Company of $950,000 (the “Offering“).
Each Unit consists of one common share of the Company (each, a “Common Share“) and one half of one Common Share purchase warrant (each whole warrant, a “Warrant“). And each Flow-Through Unit consists of one flow-through common share of the Company (each, a “Flow-Through Share“) and a half Warrant. Each Warrant is exercisable by the holder thereof to acquire one Common Share (a “Warrant Share“) at a price of C$0.22 for a period of 36 months expiring on May 15, 2026.