Eskay Mining Corp Commences VTEM Airborne Survey and Closes Non-Brokered Private Placement
Toronto, Ontario (FSCwire) - Eskay Mining Corp. (“Eskay” or the “Company”) (TSX-V: ESK) (OTC-PK: ESKYF) (Frankfurt: KN7; WKN: A0YDPM) wishes to announce that, after delays relating to weather conditions and equipment issues, its deep-imaging VTEM airborne geophysical survey on its Corey Property, referred to in its press release dated May 11, 2018, will be proceeding.
The Company also wishes to announce that it has closed the final tranche of its non-brokered private placement offering with the sale of 200,000 working capital units (“WC Unit”) at a price of $0.25 per WC Unit for proceeds of $50,000. The securities issued are subject to a statutory four month hold period expiring on October 8, 2018. Each WC Unit comprises one (1) common share of the Company and one (1) common share purchase warrant (a “WC Warrant”). Each WC Warrant entitles the holder to acquire one (1) common share at a price of $0.40 until the earlier of (i) June 7, 2020; and (ii) in the event that the closing price of the common shares on the TSX Venture Exchange is at least $0.60 for ten (10) consecutive trading days, and the 10th trading day (the “Final Trading Day”) is at least four (4) months from the Closing, the date which is thirty (30) days from the Final Trading Day.
About Eskay Mining Corp:
Eskay Mining Corp. (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals in British Columbia in a highly prolific, poly metallic area known as the Eskay Rift Belt located in the “Golden Triangle”, 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (130,000 acres).
All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.
For further information, please contact:
T: 416 907 4020
President & Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
To view the original release, please click here
Source: Eskay Mining Corp. (TSX Venture:ESK, OTC Bulletin Board:ESKYF, FWB:KN7)
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