E-Tech Resources Inc. Increases Previously Announced Private Placement to $700,000
Halifax, Nova Scotia – (Newsfile Corp. – August 10, 2023) – E-Tech Resources Inc. (TSXV: REE) (FSE:K2i) (“E-Tech” or the “Company“) is pleased to announce that it has increased its previously announced private placement of $500,000 of common shares of E-Tech (each, a “Share”) at $0.06 per Share up to $700,000 (the “Financing“). Under the increased Financing terms, E-Tech will now offer subscribers up to 11,666,667 Shares at $0.06 per Share. The proceeds from the private placement will be used to support the Company’s ongoing exploration and operational activities.
To facilitate the Financing, E-Tech has entered into an agreement with Numus Capital Corp., a registered Exempt Market Dealer, to act as agent for the Financing. E-Tech has agreed to pay to the agent a cash fee equal to 7% of proceeds raised from investors introduced by the agent, except on subscriptions received from directors, officers, and employees of E-Tech, and to issue compensation warrants entitling the agent to purchase that number of Shares as is equal to seven percent (7%) of the Shares sold to investors introduced by the agent, except on subscriptions received from directors, officers, and employees of E-Tech. Each compensation warrant will be exercisable into a Share of E-Tech at $0.06 per share for a period of 24 months from closing.
