Edgewater Increases Non-Brokered Private Placement to $11,000,000
06 Junio 2011 - 8:00AM
Marketwired
Edgwater Exploration Ltd. (TSX VENTURE: EDW)(OTCQX: EDWZF)
("Edgewater " or the "Company") is pleased to announce the Company
has increased the previously announced non-brokered private
placement financing to $11,000,000 from $7,500,000 due to further
investment interest.
The non-brokered private placement will consist of the Company
issuing up to 13,750,000 units (the "Units") at a price of $0.80
per Unit. Each Unit will consist of one common share and one-half
of a common share purchase warrant. Each whole warrant will entitle
the holder to acquire an additional common share for $1.10 for a
period of 24 months from the closing date. Proceeds of the
financing will be used to advance the Company's Corcoesto Gold
Project and the Enchi Gold Project and for general working
capital.
A finder's fee will be paid in conjunction with the completion
of the offering of up to 6.5% of the gross proceeds, payable in
cash or the equivalent in common shares. The private placement is
subject to TSX Venture Exchange approval.
About Edgewater Exploration Ltd.
Edgewater is a mineral exploration company focused principally
on acquisitions, advancement and development of precious metal
properties. Edgewater is currently developing the Enchi Gold
Project in Ghana
(http://www.edge-water.com/s/Enchi_Gold.asp), West Africa and
the Corcoesto Gold Project
(http://www.edge-water.com/s/Corcoesto_Gold.asp) in northwest
Spain.
On behalf of the board of EDGEWATER EXPLORATION LTD.
George Salamis, President and CEO
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.
Contacts: Edgwater Exploration Ltd. Ryan King Vice President
(604) 628-1012 rking@edge-water.com www.edge-water.com
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