Eminent Announces Closing of Final Tranche of Private Placement and Debt Settlement
EMINENT ANNOUNCES CLOSING OF FINAL TRANCHE OF
PRIVATE PLACEMENT AND DEBT SETTLEMENT
VANCOUVER, British Columbia, September 29, 2023 – Eminent Gold Corp. (“Eminent” or the
“Company”) (TSXV: EMNT, OTCQB: EMGDF) announces, further to its news releases dated June
28, 2023, July 26, 2023 and September 15, 2023, that it has closed the final tranche of its non-brokered
private placement (the “Offering”). This tranche consisted of 1,112,500 units of the Company (the
“Units”), bringing the total number of Units issued to 3,017,500, at a price of $0.32 per Unit for gross
proceeds of $965,600.
In addition to the Offering, the Company has completed the debt settlement announced in its news
release dated July 26, 2023 (the “Debt Settlement”). The Debt Settlement was entered into with certain
creditors to settle an aggregate of $250,000 in debt (the “Debt”). In settlement of the Debt, the Company
issued 781,250 units of the Company (the “Settlement Units”) at a deemed price of $0.32 per
Settlement Unit.
Each Unit and Settlement Unit is comprised of one common share in the capital of the Company (each,
a “Share”) and one non-transferable Share purchase warrant (each, a “Warrant”). Each whole Warrant
will entitle the holder to purchase one additional Share in the capital of the Company (each, a “Warrant
Share”) for a period of 36 months from the closing date at an exercise price of $0.50 per Warrant Share.
If at any time after four months from closing, if the closing price of the Shares is at a price equal to or
greater than $1.00 for a period of ten consecutive trading days, the Company will have the right to
accelerate the expiry date of the Warrants by giving notice, via news release, to the holder of the
Warrants that the Warrants will expire on the date that is 30 days after the issuance of said news
release.
The Company paid $12,000 in finders’ fees to arms length finders in the final tranche of the Offering
and issued 37,500 finders’ warrants.
Certain insiders of the Company participated in the Offering and Debt Settlement. Daniel McCoy, a
director of the company, was issued 100,000 Units and Michael Kosowan, a director of the Company,
was issued 468,750 Settlement Units for aggregate gross proceeds of $182,000 (the “Insider
Participation”). The Insider Participation constitutes “related party transactions” within the meaning of
Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-
101”). The Company has relied on the exemptions from the formal valuation and minority shareholder
approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7 (a), respectively, of MI 61-101
in respect of the Insider Subscriptions.
All of the securities issued in connection with the Offering and Debt Settlement are subject to a statutory
hold period of four months plus a day from the date of issuance in accordance with the policies of the
Exchange and applicable securities legislation.
About Eminent
Eminent Gold is a gold exploration company focused on creating shareholder value through the
exploration and discovery of world-class gold deposits in Nevada. Its multidisciplinary team has had
multiple successes in gold discoveries and brings expertise and new ideas to the Great Basin. The
Company's exploration assets in the Great Basin include Hot Springs Range Project, Weepah, Gilbert
South and Spanish Moon District.
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ON BEHALF OF THE BOARD
“Paul Sun”
CEO and Director
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.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
Certain statements included in this news release constitute forward-looking information or statements (collectively, “forward-
looking statements”), including those identified by the expressions “anticipate”, “assume” “believe”, “plan”, “estimate”, “expect”,
“intend”, “may”, “should”, “will” and similar expressions to the extent they relate to the Company or its management. The
forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This news
release contains forward looking statements. These forward-looking statements are not guarantees of future performance and
involve risks, uncertainties and assumptions which are difficult to predict. Such statements are based on current expectations
and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Such
statements and information are based on numerous assumptions regarding present and future business strategies and the
environment in which the Company will operate in the future. The Company assumes no responsibility to update or revise
forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue
reliance on the Company's forward-looking statements.