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Excelsior Mining Corp. (TSXV:MIN,FWB:3XS,OTCQX:EXMGF) has closed the second tranche of a US$10 million equity financing and strategic partnership with Greenstone LLP. The company also appointed Lord Robin Renwick, Lord Renwick of Clifton to its board of directors.
Excelsior Mining Corp. (TSXV:MIN,FWB:3XS,OTCQX:EXMGF) has closed the second tranche of a US$10 million equity financing and strategic partnership with Greenstone LLP. The company also appointed Lord Robin Renwick, Lord Renwick of Clifton to its board of directors.
As quoted in the press release:
In conjunction with this closing, Greenstone purchased 11,889,507 common shares of Excelsior for US$3,606,658.36 at a rice of C$0.34 per common share. This transaction received shareholder approval at the Company’s annual and special meeting of shareholders that was held on September 30, 2014 in Vancouver (the “Meeting”). The exact number of common shares was determined based on the noon US$/C$ exchange rate as quoted by the Bank of Canada on the day of the Meeting. Greenstone now holds 32.4 million common shares or approximately 28.2% of Excelsior’s issued and outstanding common shares. The common shares issued in this second closing will be subject to a four month hold period expiring on February 21, 2015.
Excelsior executive chairman, Mark Morabito, said:
The closing of this strategic partnership and the appointment to the Board of such an outstanding nominee is a further endorsement of the quality of the Gunnison Project and the strength of our management team. As Excelsior continues to move from milestone to milestone, the Board looks forward to being the beneficiary of Lord Renwick’s vast experience and business acumen.
Click here to read the Excelsior Mining Corp. (TSXV:MIN) press release
