Company sells common stock for funds to advance Black Raven project
By Marisa Wong
Madison, Wis., Feb. 14 - Entourage Metals Ltd. said it will offer 4.5 million shares of its common stock in a non-brokered private placement.
Entourage will sell the shares at a price of C$0.45 each for gross proceeds of C$2.03 million. The price per share reflects a 10% discount to the Feb. 13 closing share price of C$0.50.
Proceeds will be used to advance the company's Black Raven High Grade Gold project, for its projects in the Hemlo region of Ontario and for general working capital.
Entourage is a Vancouver, B.C.-based mineral exploration company.
| Issuer: | Entourage Metals Ltd.
|
| Issue: | Common stock
|
| Amount: | C$2,025,000
|
| Shares: | 4.5 million
|
| Price: | C$0.45
|
| Agent: | Non-brokered
|
| Announcement date: | Feb. 14
|
| Stock symbol: | TSX Venture: EMT
|
| Stock price: | C$0.50 at close Feb. 13
|
| Market capitalization: | C$11.19 million
|
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