In This Article:
Not for distribution to United States newswire services or for release publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.
Vancouver, BC, March 21, 2025 (GLOBE NEWSWIRE) -- Eros Resources Corp. (TSXV:ROCK) (OTCQB:EROSF) (“Eros” or the “Company”) is pleased to announce a non-brokered private placement financing of up to 36,000,000 units at a price of $0.05 per unit (the “Units”) for gross proceeds of $1,800,000 (the “Offering”). The financing is now fully subscribed for and the Company plans to close shortly.
Each Unit will consist of one common share and one transferrable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.075 per share for three (3) years from the date of issue, subject to accelerated expiry.
In the event that, after the date that is four months from the date of issue of the Warrants, if the closing price of the Company's common shares on the TSX Venture Exchange (the “TSXV”) or any other stock exchange on which the Company's common shares are then listed, is at a price equal to or greater than $0.10 for a period of ten (10) consecutive trading days, the Company will have the right to accelerate the expiry date of the Warrants by issuing a press release announcing that the Warrants will expire at 5:00 p.m. (Vancouver time) on the date that is not less than 30 days from the date notice is given.
The Company recently announced the completion of a three-way amalgamation between Eros Resources, MAS Gold and Rockridge Resources. The combined company will own significant gold and copper exploration projects in Saskatchewan. The use of proceeds from the Offering will be used for general working capital and exploration in Saskatchewan.
This financing is subject to regulatory approval, including the approval of the TSXV. The Company may pay finders fees in accordance with the policies of the TSXV. All securities to be issued pursuant to the Offering are subject to a four-month hold period under applicable Canadian securities laws.
About Eros Resources Corp.:
Eros Resources Corp. is a Canadian public mineral exploration company listed on the TSXV focused on the acquisition, exploration and development of mineral resources properties in Canada and advancing its copper and gold exploration projects in Saskatchewan, including two gold Projects in the prospective La Ronge Gold Belt totaling 35,176 hectares (86,921 acres), as well as the 100% owned Knife Lake Project.