Epic Gold plans $3.15M non-brokered private placement

Epic Gold Corp. (CSE: EPG) (OTCQB: NFLDF) (FSE: 6340) announced a non-brokered private placement of up to $3,150,000 through the issuance of up to 22,500,000 units at $0.14 per unit, according to a press release from the Toronto-based company.

Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable to purchase one additional common share at $0.20 per share for 42 months from the closing date of the offering.

The company said proceeds will be directed toward exploration on its Canadian mineral properties and general working capital.

Epic Gold intends to pay finders fees in accordance with Canadian Securities Exchange (CSE) policies. The offering is subject to CSE approval, and all securities are subject to a four-month hold period.

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