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Eastmain Resources Inc. Completes $9.1 Million Offering

Published: 06/08/2017

Team: Jay Goldman, Jennifer Campbell

On June 8, 2017, Eastmain Resources Inc. closed an underwritten offering of 10,000,000 common shares at a price of $0.40 per common share and 7,582,000 flow-through common shares  at a price of $0.68 per flow-through share, to raise aggregate gross proceeds of approximately $9.1 million. The offering was completed by a syndicate of underwriters led by Cormark Securities Inc. and including Echelon Wealth Partners Inc., GMP Securities L.P., Laurentian Bank Securities Inc., Mackie Research Capital Corporation and Macquarie Capital Markets Canada Ltd.

The net proceeds of the offering will be used to fund exploration and development of Eastmain’s mineral concessions in Quebec, and for general corporate purposes.

Cassels Brock represented Eastmain with a deal team composed of Jay Goldman and Jennifer Campbell (Securities and Mining).