Etruscan Resources Inc. has closed its private placement equity offering of 28,378,378 common shares of the Company at a price of $0.37 per common share for gross proceeds of approximately $10.5 million. The common shares were sold by Raymond James Ltd. as sole agent on a best efforts basis. Endeavour Financial purchased 15,608,108 common shares under the Offering which maintains Endeavour’s 55% ownership in the Company.
The net proceeds of the Offering will be used to initiate and advance exploration programs on the Company’s properties in West Africa and for general corporate purposes.
Etruscan Resources Inc. is a gold-focused Canadian mining company with dominant land positions in West Africa. The Company’s principal mine projects include the Youga Gold Mine in Burkina Faso; the Agbaou Gold Project in Cote d’Ivoire; and the Finkolo Gold Project in Mali. Exploration programs and initiatives are on-going in Burkina Faso, Mali, Cote d’Ivoire, Ghana and Namibia. The common shares of Etruscan are traded on the Toronto Stock Exchange under the symbol “EET”.
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