representative work

Eastmain Resources Completes Second Tranche of Private Placement


On March 9, 2020, Eastmain Resources Inc. closed the second and final tranche of its private placement for aggregate gross proceeds of approximately $3 million.

Pursuant to the private placement, Eastmain issued an aggregate of 8,200,000 units at a price of $0.10 per unit, 15,875,000 Quebec flow-through common shares at a price of $0.12 per Quebec flow-through share and 2,391,304 federal flow-through common shares at a price of $0.115 per federal flow-through share. Each unit consisted of one common share and one-half of one common share purchase warrant of Eastmain. Each warrant will entitle the holder to acquire one common share of Eastmain at a price of $0.13 for a period of two years from the closing date.

Cassels acted for Eastmain with a deal team that included Jennifer Campbell and Randall Blom (Securities and Mining).