Eros Resources Corp. (TSXV:ROCK) (OTCQB:EROSF) announced a non-brokered private placement financing, raising $1.8 million.
Private Placement Financing for Eros Resources Corp.
Eros Resources Corp. has successfully completed a non-brokered private placement financing, generating gross proceeds of $1.8 million. The financing involved the issuance of 36,000,000 units at a price of $0.05 per unit.
Details of the Financing
The private placement financing announced by Eros Resources Corp. included the issuance of 36,000,000 units. Each unit consists of one common share and one common share purchase warrant. The price per unit was set at $0.05, resulting in total gross proceeds of $1.8 million. The shares issued under the private placement will be subject to a four-month holding period from the closing date.
- The financing was fully subscribed for.
- The funds raised will be used for general corporate purposes and working capital.
- Eros Resources Corp. did not engage a broker for the private placement.
Company Overview
Eros Resources Corp., listed on the TSX Venture Exchange under the ticker symbol «ROCK» and on the OTCQB under the ticker symbol «EROSF», is a mining company focused on the exploration and development of mineral properties. The company has a diverse portfolio of exploration projects located in North America and aims to create value for shareholders through the discovery and development of high-quality mineral resources.
Future Prospects
The successful completion of the private placement financing will provide Eros Resources Corp. with additional funds to fuel its growth strategy. The company plans to use the proceeds for general corporate purposes and working capital, which will support ongoing exploration activities and potential future acquisitions. With a strong financial position, Eros Resources Corp. is well-positioned to advance its mineral projects and deliver value to its shareholders.