Emgold Updates Property Acquisition, Equity Financing; Shares Fall 18%
Emgold Mining Corporation (EMR.V) announced an update on transactions involving its Buckskin Rawhide East Property in Nevada and an associated private placement of equity securities, including the closing of the first tranche of the private placement for proceeds of $465,000.
US$400,000 of the proceeds from the first tranche of the private placement has been utilized to acquire a 75% interest in the Buckskin Rawhide East Property.
A future tranche of the financing will be utilized to complete the remaining 25% acquisition of the property, expected to be completed in the first quarter of 2013.
EMR shares were off a penny at $0.045 on heavy trading volume of 1.89 million.
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