Tectonic Metals gets funding for gold exploration in Alaska
The company's Flat gold project is located 40 km north of the giant Donlin gold project.
Eurasian Minerals Inc. has completed the final tranche of its CAD$17.875 million private placement by the sale of 3,039,000 units for proceeds of CAD $9,876,750. Each unit, priced at CAD$3.25, consisted of one common share and one-half of one common share purchase warrant. Each full warrant entitles the warrant holder to purchase one additional common share of EMX until March 18, 2013 at a purchase price of CAD $4.00.
The company issued to finders a total of 126,920 units (being 5% of the number of units issued to investors introduced by finders) and 126,920 finder warrants (being 5% of such units). Each finder warrant is exercisable for two years to acquire one common share for CAD $3.50.
The shares, including the shares issuable on exercise of warrants, are subject to restrictions on transfer until July 19, 2011.
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