Eastmain Resources Completes Private Placement for $5.0 Million in Gross Proceeds

Eastmain Resources has completed a private placement consisting of 2,000,000 flow through common share for $2.50 per flow through (FT) share, resulting in gross proceeds of $5.0 million.

The agent on the offering, Casimir Capital, received a finder’s fee equal to 6% of the gross proceeds from the financing and non-transferable broker warrants entitling Casimir to subscribe, at a price of $2.00 per share, to a number of common shares which is equal to 6% of the FT shares which were issued through this financing.

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Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits. Eastmain has in excess of $21million in working capital and holds an interest in 12 projects within the James Bay District, including the Éléonore South property, where a gold discovery has been found in a similar geologic setting to Goldcorp's Roberto deposit.  

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