Edgewater Sells Royalty Interest on the Corcoesto Gold Project and Closes Private Placement
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/26/12 -- Edgewater Exploration Ltd. (TSX VENTURE: EDW)(OTCQX: EDWZF) ("Edgewater" or the "Company") is pleased to announce that further to its press release dated September 24, 2012 it has now closed a US$5,000,000 financing through the sale of royalty interests on the Company's 100% owned Corcoesto Gold Project in northwest Spain and a non-brokered private placement to an arm's length third party (the "Transaction"). The details of the Transaction include:
Edgewater's 100% owned Corcoesto Gold Project will now be subject to a total NSR royalty on production of 2.5% and the Company has a working capital position of $6.0 million.
A 6.0% finder's fee payable in cash will be paid on the total Transaction.
All securities issued pursuant to the private placement will have a four month hold period expiring on January 26, 2013.
About Edgewater Exploration Ltd.
Edgewater is a mineral development and exploration company focused on the development of precious metal properties. Edgewater has an experienced mine building and operating team with a track record of success. The Company is currently developing the Corcoesto Gold Project in northwest Spain, and exploring the Enchi Gold Project in Ghana, West Africa.
On behalf of the board of EDGEWATER EXPLORATION LTD.
George Salamis, President and CEO
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements", including statements respecting the anticipated completion of the Transaction and the anticipated receipt of the proceeds therefrom, completion of standard conditions and regulatory approvals. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of Edgewater to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure by Edgewater to obtain any necessary regulatory approvals and failure of either Edgewater or the purchaser to satisfy closing conditions. Edgewater disclaims any intent or obligation to update any forward-looking statement unless required by law. Although Edgewater believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements.
"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."
Contacts:
Edgewater Exploration Ltd.
Ryan King
Vice President
(604) 628-1012
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 26.09.2012 - 13:15 Uhr
Sprache: Deutsch
News-ID 186976
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 242 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Edgewater Sells Royalty Interest on the Corcoesto Gold Project and Closes Private Placement"
steht unter der journalistisch-redaktionellen Verantwortung von
Edgewater Exploration Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
