Erin Ventures Inc. (TSX-Venture: EV) has now completed its recently announced private placement. The Company has issued a total of 9,421,140 units at a price of $0.07 per unit for total proceeds of $659,479.80. Each unit consists of one common share and one warrant. The warrants have a two year term with an exercise price of $0.15 in the first year and $0.30 in the second year. The warrants are subject to an accelerate expiry provision if the Company’s shares trade above $0.30 in the first year or $0.40 in the second year. Finder’s fees totaling $22,585 are being paid with respect to this placement. The proceeds of this placement will be used by Erin Ventures Inc. to fund exploration and development expenses, in addition to general and administrative expenses and working capital. The securities issued in this placement are subject to a hold period expiring August 5, 2013.
On behalf of the Board of Directors,
Blake Fallis, General Manager
For further information, please contact:
Erin Ventures Inc. Canada
Blake Fallis, General Manager TSX Venture: EV
Phone: 1-250- 384-1999 or 1-888-289-3746
Erin’s Public Quotations:
TSX Venture: EV
SEC 12G3-2(B) #82-4432
Berlin Stock Exchange: EKV
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.