Twitter Facebook LinkedIn YouTube

ElectraStone (TSXV: ELT) Announces a non-brokered private placement

Video Platform Video Management Video Solutions Video Player

The offering of up to 40 million units is priced at $0.05 per unit for gross proceeds of up to $2 million, which will be used to advance the company’s operations and for general and corporate purposes. Each unit consists of one share and one-half a warrant, with each full warrant exercisable at $0.10 for 2 years.

Additional Information:

Company: Electra Stone
Website: http://www.electrastone.com/
Stock Symbol: TSXV: ELT
Date Published: May 26, 2015
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Electra Stone, symbol ELT on the TSX Venture Exchange, announced a non-brokered private placement.

The offering of up to 40 million units is priced at $0.05 per unit for gross proceeds of up to $2 million, which will be used to advance the company’s operations and for general and corporate purposes. Each unit consists of one share and one-half a warrant, with each full warrant exercisable at $0.10 for 2 years.

Electra Stone specializes in industrial minerals and dimensional stone.

The company is mining chalky geyserite at the Apple Bay mineral properties located on Vancouver Island near Port Hardy, British Columbia.

The company is currently producing 70,000 tonnes of geyserite, which is used in cement as a “binder”, per annum and shipping it to Ash Grove Cement in Seattle.

The company has recently entered into the dimensional stone sector and is focussing on Nephrite Jade, which is abundant in British Columbia.

Nephrite Jade prices range from $4 per kilogram for architectural grade, to as high as $1,000 per kilogram for gem quality.

Global gem grade Nephrite demand is now estimated at over 800 tonnes per year, a 400% increase from pre-2008, a trend that is expected to continue moving forward.

The shares are trading at $0.08, and with 45.2 million shares outstanding, the company is capitalized at $3.6 million.

For more information on the company, please visit their website www.electrastone.com or contact Tyler Lowes at 604-681-1568 or email tyler@electrastone.com.

I’m Samantha Deutscher for Investmentpitch Media
For more video news, and to view our disclaimer, please visit our website at www.investmentpitch.com and to receive our latest videos, please sign up for our RSS feed.
This video is for information purposes only and it not a recommendation to buy or sell any securities.