Electra Announces Closing of a Non-Brokered Private Placement
Vancouver, British Columbia - Electra Stone Ltd. (TSX Venture: ELT) (“Electra Stone”) announces the closing of a non-brokered private placement, subject to TSX Venture Exchange Acceptance. The private placement consists of 1,850,000 Units at $0.05 per unit for gross proceeds of $92,500.
Each Unit consists of one common share of the Company and one common share purchase warrant (“Warrant”). Each Warrant entitles the holder to purchase one common share of the Company at a price of $0.10 per share for a period of 24 months following the date of issuance.
All of the securities issued under the private placement will be subject to a four month hold period from closing.
The proceeds of this private placement are for the Company’s operations and for general and corporate purposes, business plan development and mining operations.
About Electra Stone
Electra Stone Ltd. was incorporated in 1976 and has since September 2003 been in continuous production with a cement raw material operation on North Vancouver Island and operated the Aurora Gold Mine in Nevada in the 1990’s. Electra also has a portfolio of promising gold properties in BC, Ontario and Quebec.
For further information on Electra Stone Ltd. please visit www.electrastoneltd.com
Or contact: Tyler Lowes 604-681-1568.
On behalf of the Board of Directors,
President and Director.
Forward Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward –looking statements in this news release include completion of a financing and the issuance of securities. Forward information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update, or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties as it relates to Electra Stone Ltd., please refer to the Company’s Annual Financials filed with SEDAR.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.