Ely Gold & Minerals (ELY-V) Aug 26, '16 is pleased to announce that further to the Company's news release dated August 19, 2016, the Company has increased the size of the non-brokered private placement of units from 8,000,000 Units to 10,000,000 Units at a price of $0.14 per Unit, for gross proceeds of $1,400,000. The Units will be comprised of one common share and one-half of one share purchase warrant. One whole warrant will entitle the holder to purchase one common share for a period of two years at a price of C$.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 working capital.
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
Stephen Kenwood, P. Geo, is director of the Company and a Qualified Person as defined by NI 43-101. Mr. Kenwood has reviewed and approved the technical information in this press release.
On Behalf of the Board of Directors
Trey Wasser, President & CEO
For further information, please contact:
trey@elygoldinc.com
972-803-3087
ir@elygoldinc.com
647 964 0292
elygoldinc.com |
