VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 24, 2014) -Eagle Mountain Gold Corp. ("Eagle Mountain" or the "Company") (TSX VENTURE:Z) (FRANKFURT:E9X1) (OTCQX:EMGCF) today announced the termination of its financing arrangements with Weiser Capital Limited ("Weiser") of Nassau, Bahamas. Weiser has assisted the Company with several financings, earning fees for introducing investors to the Company and arranging for their participation in equity financings. Following receipt of shareholder approval for the Company's proposed business combination with Goldsource Mines Inc. (the "Transaction"), Weiser's services are no longer required.
The Company has agreed, subject to TSX Venture Exchange (the "Exchange") acceptance, to issue to Weiser common shares having an aggregate value of $100,000, at a price per share equal to the 10-day Volume Weighted Average Price ("VWAP") of the Company's shares traded on the Exchange for the 10-day period ending February 25, 2014. In consideration for the share issuance, Weiser has agreed to terminate its agreement with the Company and surrender its first right of refusal on future financings.
The closing of the Transaction is scheduled to occur on February 28, 2014. The Transaction is subject to the Company obtaining final approval of the TSX Venture Exchange. A summary of the Transaction is provided in the Company's news release dated November 26, 2013.
On behalf of The Board of Directors of Eagle Mountain Gold Corp.
Ioannis (Yannis) Tsitos, President, CEO & Director
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.