Emgold Closes Flow-Through and Non-Flow Through Private Placement to Raise CDN$2.4 Million
**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
UNITED STATES NEWS WIRE SERVICES**
EMGOLD MINING CORPORATION
Suite 1015 – 789 West Pender Street
Vancouver, B.C. V6C 1H2
www.emgold.com
September 18, 2020 TSX Venture Exchange : EMR
OTC : EGMCF
Frankfurt and Berlin Exchanges : EMLN
EMGOLD CLOSES FLOW-THROUGH
AND NON-FLOW THROUGH PRIVATE PLACEMENT
TO RAISE CDN$2.4 MILLION
Vancouver, British Columbia - Emgold Mining Corporation (TSX -V: EMR) ( “Emgold” or the
“Company”) is pleased to report that it has closed its previously announced non-brokered private
placement (the “Private Placement ”) of (i) 10,410,000 flow -through units of the Company (the “ FT
Units”), at a price of CDN$0.10 per FT Unit, for gross proceeds of CDN$1,041,000.00, and (ii)
15,411,540 non-flow through units of the Company (the “NFT Units”), at a price of CDN$0.09 per NFT
Unit, for gross proceeds of CDN$1,387,038.60. Total combined gross proceeds are $2,428,038.60.
Each FT Unit consists of one common share (a “ FT Share ”) of the Company and one -half non-
transferable common share purchase warrant (the “FT Warrant”). Each whole FT Warrant, will entitle
the holder to purchase one common share of the Company ( the “FT Warrant Share ”) at a price of
CDN$0.16 per FT Warrant Share for a period of 24 months from the date of issuance.
Each NFT Unit consists of one common share ( the “NFT Share ”) of the Company and one non-
transferable common share purchase warrant ( the “NFT Warrant”). Each NFT Warrant will entitle the
holder to purchase one common share of the Company ( the “NFT Warrant Share ”) at a price of
CDN$0.12 per NFT Warrant Share for a period of 24 months from the date of issuance.
In connection with the issuance of the FT Units, the Company paid finders' fees of CDN$66,860 in cash
and 628,600 common share purchase warrants issued on the same terms as the FT Warrants. In
connection with the issuance of the N FT Units, the Company paid finders' fees of CDN$25,970 in cash
and 288,555 common share purchase warrants issued on the same terms as the NFT Warrants.
The proceeds from the issuance of the FT Units will be used for qualifying exploration on the Company’s
Canadian properties in Quebec and will entitle the holder to receive the applicable tax benefits in
accordance with the provisions of the Income Tax Act (Canada).
The Private Placement remains subject to final approval of the TSX Venture Exchange. All securities
issued under the Private Placement will be subject to a statutory hold period of four months plus a day
following the date of issuance.
About Emgold
Emgold is a gold and base metal exploration company focused on Nevada and Quebec. The Company’s
strategy is to look for quality acquisitions, add value to these assets through exploration, and monetize
them through sale, joint ventures, option, royalt y, and other transactions to create value for our
shareholders (acquisition and divestiture (A&D) business model).
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In Nevada, Emgold’s Golden Arrow Property, the core asset of the Company, is an advanced stage gold
and silver property with a well -defined measured and indicated resource. New York Canyon is a base
metal property subject to an Earn-in with Option to Joint Venture Agreement with Kennecott Exploration,
a subsidiary of Rio Tinto Plc ( NYSE:RIO). Buckskin Rawhide East is a gold and silver property leased
to Rawhide Mining LLC, who operate the adjacent Rawhide Mine and represents a royalty opportunity
for the Company.
In Quebec, the Casa South Property, is an early stage gold property adjacent to Hecla Mining
Corporation’s (NYSE:HL) operating Casa Berardi Mine. The East-West Property, which Emgold has an
option on to acquire up to a 55% interest, is a gold property adjacent to and on strike with Wesdome Gold
Mine Ltd.’s (TSX:WDO) Kiena Complex and O3 Mining Corporation’s (TSX:OIII) Malarctic Property
(Marban Project). Emgold also has a 1% NSR in the Troilus North Property, part of the Troilus Mine
Property being explored by Troilus Gold Corporation (TSX:TLG).
Note that the location of Emgold’s properties adjacent to producing or past producing mines doe s not
guarantee exploration success at Emgold’s properties or that mineral resources or reserves will be
delineated. For more information on the Company, investors should review the Company’s website
at www.emgold.com or view the Company’s filings available at www.sedar.com.
This news release does not constitute an offer of sale of any of the above -mentioned securities in the United
States. The foregoing securities have not been and will not be registered under the United States Securities Act of
1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the
United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act)
or persons in the United States absent registration or an applicable exemption from such registration
requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will
there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful.
On behalf of the Board of Directors
David G. Watkinson, P.Eng.
President & CEO
For further information, please contact:
David G. Watkinson, P.Eng.
Tel: 530-271-0679 Ext 101
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Note on Forward-Looking Statements
Certain statements made and information contained herein may constitute “forward looking information” and
“forward looking statements” within the meaning of applicable Canadian and United States securities legislation.
These statements and information are based on facts currently available to the Company and there is no assurance
that actual results will meet management’s expectations. Forward -looking statements and information may be
identified by such terms as “anticipates”, “believes”, “targets”, “estim ates”, “plans”, “expects”, “may”, “will”,
“could” or “would”. Forward -looking statements and information contained herein are based on certain factors and
assumptions regarding, among other things, the estimation of mineral resources and reserves, the real ization of
resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and
development, capital and operating costs, the availability of financing, the receipt of regulatory approvals,
environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable
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as of the date hereof, forward -looking statements and information are not guarantees of future performance and
readers should not place undue importance on suc h statements as actual events and results may differ materially
from those described herein. The Company does not undertake to update any forward- looking statements or
information except as may be required by applicable securities laws. The Company's Cana dian public disclosure
filings may be accessed via www.sedar.com and readers are urged to review these materials, including any technical
reports filed with respect to the Company's mineral properties.