ETHOS ANNOUNCES PRIVATE PLACEMENT OF UP TO $15 MILLION
14 April 2011 - 6:29AM
PR Newswire (Canada)
VANCOUVER, April 13 /CNW/ -- /NOT FOR DISSEMINATION INTO THE UNITED
STATED OR THROUGH U.S. NEWS WIRE SERVICES/ VANCOUVER, April 13
/CNW/ - Ethos Capital Corp. (the "Company" or "Ethos") (TSX-V: ECC)
(OTCQX: ETHOF) (FRANKFURT: 1ET) is pleased to announce that it has
engaged Canaccord Genuity Corp. (the "Agent") to act as agent in
connection with a proposed private placement for gross proceeds of
up to $15,000,000 (the "Offering"). The proceeds will be
raised by the issuance of any combination of units and flow-through
shares of Ethos at a price of $1.00 per unit (the "Unit Offering
Price") and $1.20 per flow-through share, subject to a maximum of
$5,000,000 issued in flow-through shares. Each unit will consist of
one common share and one half of one common share purchase
warrant. Each whole warrant will entitle the holder to
purchase one additional common share at a price of $1.35 per share,
for a period of 18 months following the date of closing. The
proceeds of this Offering will be used to advance the Company's
Canadian and Mexican projects and for general working capital
purposes. In connection with the Offering, the Company will pay to
the Agent a cash commission equal to 6% of the aggregate proceeds
from the offering of the units and flow-through shares and issue to
the Agent broker warrants, exercisable for a period of 18 months
from the closing date of the Offering, to acquire in aggregate that
number of units of the Company which is equal to 6% of the number
of units and flow-through shares sold pursuant to the Offering
exercisable at the Unit Offering Price. The closing of the Offering
is expected to occur on May 5, 2011 or such earlier or later date
as may be agreed upon by Ethos and the Agent. Terms of the Offering
are subject to acceptance by the TSX Venture Exchange. About Ethos
Capital Corp. Ethos is a junior mining company focused on the
exploration and development of its mineral property prospects
located in recognized mineralized belts, in areas that are
politically stable, mining-friendly and hospitable to exploration
and development. The Company's principal assets are its substantial
mineral land positions in the heart of the emerging White Gold /
Klondike gold district, as well as its Santa Teresa and Corrales
silver-zinc-lead properties in Mexico. Ethos Capital Corp. Per:
Gary Freeman, President & CEO Forward-Looking Statement
Cautions: This press release contains certain "forward-looking
statements" within the meaning of Canadian securities legislation,
relating to, among other things, the Company's plans to complete
the Offering. Although the Company believes that such statements
are reasonable, it can give no assurance that such expectations
will prove to be correct. Forward-looking statements are statements
that are not historical facts; they are generally, but not always,
identified by the words "expects," "plans," "anticipates,"
"believes," "intends," "estimates," "projects," "aims,"
"potential," "goal," "objective," "prospective," and similar
expressions, or that events or conditions "will," "would," "may,"
"can," "could" or "should" occur, or are those statements, which,
by their nature, refer to future events. The Company cautions that
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are
made and they involve a number of risks and uncertainties.
Consequently, there can be no assurances that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. Except
to the extent required by applicable securities laws and the
policies of the TSX Venture Exchange, the Company undertakes no
obligation to update these forward-looking statements if
management's beliefs, estimates or opinions, or other factors,
should change. Factors that could cause future results to differ
materially from those anticipated in these forward-looking
statements include, the Company's inability to secure the
acceptance by the TSX Venture Exchange for the above-described
option agreements, the Company's inability to secure sufficient
subscriptions to complete all or any part of the Offering,
accidents and other risks associated with mineral exploration
operations, the risk that the Company will encounter unanticipated
geological factors, the possibility that the Company may not be
able to secure permitting and other governmental clearances
necessary to carry out the Company's exploration plans, and the
risk of political uncertainties and regulatory or legal changes in
Mexico that might interfere with the Company's business and
prospects. The reader is urged to refer to the Company's reports,
publicly available through the Canadian Securities Administrators'
System for Electronic Document Analysis and Retrieval (SEDAR) at
www.sedar.com for a more complete discussion of such risk factors
and their potential effects. 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. To view this news
release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/April2011/13/c3891.html
p please contact Gary Freeman or Andy Hay at 604-682-4750. /p
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