Source: Element 29 Resources.
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  • Element 29 (ECU) has upsized its non-brokered private placement to up to C$6,600,000
  • The company will increase its offering to up to 11,000,000 units priced at $0.60 per unit
  • As previously disclosed, it will use the proceeds for drilling and an initial mineral resource estimate on its various copper properties
  • Element 29 Resources is an emerging copper exploration and development company focused on a portfolio of Peruvian projects
  • Element 29 (ECU) is unchanged trading at $0.58 per share

Element 29 (ECU) has upsized its non-brokered private placement to up to C$6,600,000.

The company will increase its offering to up to 11,000,000 units priced at $0.60 per unit.

Each unit is comprised of one common share and one-half of one common share purchase warrant.

Each warrant is exercisable into one common share priced at $0.85 for three years from the closing of the offering.

As previously disclosed, it will use the proceeds for drilling and an initial mineral resource estimate on its various copper properties.

Closing is subject to the conditional acceptance of the TSX Venture Exchange.

All securities under the offering will be subject to a four-month hold period from the date of closing.

Element 29 Resources is an emerging copper exploration and development company focused on a portfolio of Peruvian projects.

Element 29 (ECU) is unchanged trading at $0.58 per share as of 2:04 pm EST.

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