Eureka Announces Closing of First Tranche of Private Placement

VANCOUVER , Sept. 13, 2016 /CNW/ – Eureka Resources (TSXV:EUK) is pleased to announce the closing of the first tranche of its private placement offering of units (the “Offering”), as previously announced on August 25, 2016. In connection with the closing of the first tranche of the Offering, the Company issued 1,050,000 units at a price of $0.14 per unit, for gross proceeds of $147,000 . Each unit consisted of one common share in the capital of the Company and one half of one share purchase warrant, with each whole warrant entitling the holder to acquire an additional common share of the Company at a price of $0.20 per share for two years from the closing.

Michael Sweatman , CEO of Eureka, stated, “The proceeds of the Offering will be used to explore our Gemini lithium project in Nevada and for working capital. The Gemini Project is an exciting opportunity to continue in our commitment to add value for our shareholders by taking on relatively low cost projects which we believe have potential.”

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