Transactions

Peterson McVicar acts for Laurentian in Eastmain Resources Bought Deal Private Placement

On July 5, 2018 Eastmain Resources Inc. (“Eastmain” or the “Company”) announced that it had closed its bought deal private placement, including the full amount of the over-allotment option, for aggregate gross proceeds of C$5.75 million (the “Offering”), consisting of 11,935,321 units of the Company (“Hard Units”) at a price $0.235 per Hard Unit, 2,100,000 Quebec flow-through common shares of the Company (the “Quebec FT Shares”) at a price of $0.30 per Quebec FT Share and 8,268,570 Federal flow-through common shares of the Company (the “Federal FT Shares”) at a price of $0.28 per Federal FT Share (together with the Quebec FT Shares, the “FT Shares”).

The Offering was completed pursuant to an underwriting agreement with a syndicate of underwriters led by Industrial Alliance Securities Inc. and including Cormark Securities Inc., Laurentian Bank Securities Inc., Echelon Wealth Partners Inc., GMP Securities L.P., Paradigm Capital Inc. and Elemental Capital Partners LLP.

The net proceeds from the sale of the Hard Units will be used to fund the exploration and development of the Company’s Québec mineral concessions and for general corporate and working capital purposes. The gross proceeds received by the Company from the sale of the FT Shares will be used to incur Canadian Exploration Expenses (“CEE”) that are “flow-through mining expenditures” on the Company’s properties in Québec, which will be renounced to the subscribers with an effective date no later than December 31, 2018, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of FT Shares.

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