Ethos Gold (TSXV:ECC)
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VANCOUVER, April 13 /CNW/ --
/NOT FOR DISSEMINATION INTO THE UNITED STATED OR THROUGH U.S. NEWS WIRE
SERVICES/
VANCOUVER, April 13 /CNW/ - Ethos Capital Corp. (the "Company" or
"Ethos") (TSX-V: ECC) (OTCQX: ETHOF) (FRANKFURT: 1ET) is pleased to
announce that it has engaged Canaccord Genuity Corp. (the "Agent") to
act as agent in connection with a proposed private placement for gross
proceeds of up to $15,000,000 (the "Offering"). The proceeds will be
raised by the issuance of any combination of units and flow-through
shares of Ethos at a price of $1.00 per unit (the "Unit Offering
Price") and $1.20 per flow-through share, subject to a maximum of
$5,000,000 issued in flow-through shares.
Each unit will consist of one common share and one half of one common
share purchase warrant. Each whole warrant will entitle the holder to
purchase one additional common share at a price of $1.35 per share, for
a period of 18 months following the date of closing.
The proceeds of this Offering will be used to advance the Company's
Canadian and Mexican projects and for general working capital purposes.
In connection with the Offering, the Company will pay to the Agent a
cash commission equal to 6% of the aggregate proceeds from the offering
of the units and flow-through shares and issue to the Agent broker
warrants, exercisable for a period of 18 months from the closing date
of the Offering, to acquire in aggregate that number of units of the
Company which is equal to 6% of the number of units and flow-through
shares sold pursuant to the Offering exercisable at the Unit Offering
Price.
The closing of the Offering is expected to occur on May 5, 2011 or such
earlier or later date as may be agreed upon by Ethos and the Agent.
Terms of the Offering are subject to acceptance by the TSX Venture
Exchange.
About Ethos Capital Corp.
Ethos is a junior mining company focused on the exploration and
development of its mineral property prospects located in recognized
mineralized belts, in areas that are politically stable,
mining-friendly and hospitable to exploration and development. The
Company's principal assets are its substantial mineral land positions
in the heart of the emerging White Gold / Klondike gold district, as
well as its Santa Teresa and Corrales silver-zinc-lead properties in
Mexico.
Ethos Capital Corp.
Per:
Gary Freeman, President & CEO
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within
the meaning of Canadian securities legislation, relating to, among
other things, the Company's plans to complete the Offering. Although
the Company believes that such statements are reasonable, it can give
no assurance that such expectations will prove to be correct.
Forward-looking statements are statements that are not historical
facts; they are generally, but not always, identified by the words
"expects," "plans," "anticipates," "believes," "intends," "estimates,"
"projects," "aims," "potential," "goal," "objective," "prospective,"
and similar expressions, or that events or conditions "will," "would,"
"may," "can," "could" or "should" occur, or are those statements,
which, by their nature, refer to future events. The Company cautions
that Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are
made and they involve a number of risks and uncertainties.
Consequently, there can be no assurances that such statements will
prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Except to the
extent required by applicable securities laws and the policies of the
TSX Venture Exchange, the Company undertakes no obligation to update
these forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Factors that could cause
future results to differ materially from those anticipated in these
forward-looking statements include, the Company's inability to secure
the acceptance by the TSX Venture Exchange for the above-described
option agreements, the Company's inability to secure sufficient
subscriptions to complete all or any part of the Offering, accidents
and other risks associated with mineral exploration operations, the
risk that the Company will encounter unanticipated geological factors,
the possibility that the Company may not be able to secure permitting
and other governmental clearances necessary to carry out the Company's
exploration plans, and the risk of political uncertainties and
regulatory or legal changes in Mexico that might interfere with the
Company's business and prospects. The reader is urged to refer to the
Company's reports, publicly available through the Canadian Securities
Administrators' System for Electronic Document Analysis and Retrieval
(SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential
effects.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/April2011/13/c3891.html
p please contact Gary Freeman or Andy Hay at 604-682-4750. /p