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Enter Symbol
or Name
USA
CA



Eurotin Inc
Symbol TIN
Shares Issued 79,641,759
Close 2013-11-08 C$ 0.035
Market Cap C$ 2,787,462
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Eurotin arranges $3-million placement

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

Subject: Eurotin Inc. Announces Private Placement Eurotin Inc. Announces Private Placement
Marketwired
 
 
Eurotin Inc.
TSX VENTURE:TIN
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November 11, 2013
Eurotin Inc. Announces Private Placement
TORONTO, ONTARIO--(Marketwired - Nov. 11, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Eurotin Inc. (TSX VENTURE:TIN) ("Eurotin" or the "Company"), is pleased to announce that the Company has entered into an agreement with PowerOne Capitial Markets Limited ("PowerOne") to complete a private placement financing (the "Offering") of up to 60,000,000 common shares at an issue price of C$0.05 per common share for gross proceeds of up to C$3,000,000.

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 $0.05 per common share. The Company anticipates that up to approximately $1,000,000 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% of the gross proceeds of the Offering and will receive warrants to purchase up to 6% of the total number of common shares issued pursuant to the Offering, with each warrant being exercisable at a price of $0.05 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.

Forward-looking statements

This press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on the expectations of the Company as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to, the terms of the Offering, the planned use of the proceeds, the receipt of all regulatory approvals, general market conditions, general economic conditions, the timing of the closing of the Offering and changes in the laws, rules and regulations applicable to the Company. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual developments to be materially different from those expressed or implied by such forward-looking statements. The Company has no intention, nor obligation, to update the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

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.

CONTACT INFORMATION:
Eurotin Inc.
Trevor Richardson
CEO
416 918-2242
INDUSTRY: Manufacturing and Production - Mining and Metals

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