VANCOUVER, BC, July 27, 2020 /PRNewswire/ - Etruscus Resources Corp. (CSE: ETR) (FSE: ERR) (the "Company" or "Etruscus") announces that, further to its $1 million private placement news from July 8, 2020, the price of flow-through units has been reduced to $0.45 per unit (from $0.50 per unit). Up to 1,444,444 flow-through units will be offered for proceeds of up to $650,000, with each flow-through unit consisting of one (1) flow-through common share and one-half (1/2) of one (1) non-flow-through, non-transferable share purchase warrant. Each whole warrant is exercisable for a period of two (2) years for the purchase of one (1) additional non-flow-through common share at a price of $0.60 per share.
Terms remain the same for the previously announced 1 million non-flow-through units offered at $0.35 per unit for proceeds of up to $350,000, with each unit consisting of one (1) common share and one-half (1/2) of one share purchase warrant. Each whole warrant is exercisable for a period of two (2) years for the purchase of one (1) additional common share at a price of $0.50 per share.
Proceeds of the financing will be used for both exploration and general working capital.
The Company's exploration team is mobilizing to its Rock & Roll and Sugar properties located in the Eskay Camp of BC's prolific Golden Triangle. The start of the 2020 exploration season will commence later this week.
Etruscus Resources Corp. is a Vancouver-based exploration company focused on the development of its 100%-owned Rock & Roll and Sugar properties comprising 27,136 hectares near the past producing Snip mine in Northwest B.C.'s prolific Golden Triangle.
Etruscus is traded under the symbol "ETR" on the Canadian Securities Exchange and "ERR" on the Frankfurt Stock Exchange and has 22,453,501 common shares issued and outstanding.
On behalf of the Board of Directors:
/s/ "Gordon Lam"
Chief Executive Officer, President and Director
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SOURCE Etruscus Resources Corp.