Over 10 years we help companies reach their financial and branding goals. Maxbizz is a values-driven consulting agency dedicated.




411 University St, Seattle


E-Tech Resources Inc. Closes Private Placement of $700,000

E-Tech Resources Inc. Closes Private Placement of $700,000

Halifax, Nova Scotia – (Newsfile Corp. August 11, 2023) – E-Tech Resources Inc. (TSXV:REE) (FSE:K2i) (“E-Tech” or the “Company“) is pleased to announce closing of its previously announced private placement of 11,666,667 common shares of E-Tech (each, a “Share”) at $0.06 per Share for gross proceeds of $700,000 (the “Financing“). The proceeds from the private placement will be used to support the Company’s ongoing exploration and operational activities. 

Numus Capital Corp., a registered Exempt Market Dealer, acted as agent for the Financing. In connection with the private placement, E-Tech paid the agent cash commissions of $46,900 and 781,667 broker warrants. Each broker warrant entitles the holder to acquire one Share at an exercise price of $0.06 and is exercisable for a period of 24 months from closing. 

The Financing remains subject to final approval of the TSXV. All securities issued pursuant to the Financing will be subject to a hold period lasting four months and one day from the closing.  

The engagement of Numus Capital Corp., and the subscription by Insiders of the Company outlined below pursuant to the Financing, constitute Related Party Transactions under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101“). E-Tech has relied upon an exemption for formal valuation and minority shareholder approval required under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that any related party elements of such transactions would not exceed 25% of market capitalization of E-Tech. The Financing was unanimously approved by all members of the board of directors of the Company not in a declared conflict of interest.