Ely Gold & Minerals (ELY-V) Aug 19, '16 announces a proposed non-brokered private placement consisting of up to 8,000,000 units at a price of C$.14 per Unit, for gross proceeds of C$1,120,000. The Units will be comprised of one common share and one-half of one share purchase warrant. One whole warrant will entitle the holder to purchase one common share for a period of two years at a price of C$.20 per share.
The Company may, in appropriate circumstances, pay a finder's fee comprising cash and/or securities in connection with the Offering. The Offering is subject to TSX Venture Exchange acceptance. All Securities issued pursuant to the Offering will be subject to a four-month hold period from the closing date. The proceeds from the Offering will be used for property acquisition, royalty acquisition and for general corporate expenses.
About Ely Gold
Ely Gold is focused on developing recurring cash flow streams through the acquisition, consolidation, enhancement, and resale of highly prospective, un-encumbered North American precious metals properties. Ely's property development efforts maximize each property's potential for acquisition, while reserving significant royalty interests. Additional information about Ely Gold is available at the Company's website, at www.elygoldinc.com
On Behalf of the Board of Directors
Signed "Trey Wasser"
Trey Wasser, President & CEO
For further information:
trey@elygoldinc.com,
972-803-3087;
ir@elygoldinc.com,
647 964 0292 |
