07:08:11 EDT Fri 24 May 2024
Enter Symbol
or Name

Eurotin Inc
Symbol TIN
Shares Issued 79,641,759
Close 2013-11-08 C$ 0.035
Market Cap C$ 2,787,462
Recent Sedar Documents

Eurotin arranges $3-million placement

2013-11-11 08:19 ET - News Release

Mr. Trevor Richardson reports


Eurotin Inc. has entered into an agreement with PowerOne Capitial Markets Ltd. to complete a private placement financing of up to 60 million common shares at an issue price of five cents per common share for gross proceeds of up to $3-million.

The company intends to use the net proceeds from the offering to continue development of the Oropesa tin project and for general working capital purposes.

In addition to and contemporaneous with closing of the offering, the company also intends to complete debt conversions with certain creditors of the company whereby certain payables of the company will be converted into common shares at a deemed issue price of five cents per common share. The company anticipates that up to approximately $1-million of debt will be converted into common shares.

The offering will be made on a best efforts basis by PowerOne. PowerOne will be paid a cash commission of 6 per cent of the gross proceeds of the offering and will receive warrants to purchase up to 6 per cent of the total number of common shares issued pursuant to the offering, with each warrant being exercisable at a price of five cents per common share for a period of two years.

Closing of the offering is anticipated to occur by the end of November, 2013, and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.

We seek Safe Harbor.

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