Eskay Mining Corp Commences VTEM Airborne Survey and Closes Non-Brokered Private Placement
Toronto, June 12, 2018 – Eskay Mining Corp. (“Eskay” or the “Company”) (TSX-V:ESK) (OTC-PK: ESKYF) (Frankfurt: KN7; WKN: A0YDPM) wishes to announce that, after delays
relating to weather conditions and equipment issues, its deep-imaging VTEM airborne geophysical survey on its Corey Property, referred to in its press release dated May 11, 2018, will be proceeding.
The Company also wishes to announce that it has closed the final tranche of its non-brokered private placement offering with the sale of 200,000 working capital units (“WC Unit”) at a price of $0.25 per WC Unit for proceeds of $50,000. The securities issued are subject to a statutory four month hold period expiring on October 8, 2018. Each WC Unit comprises one (1) common share of the Company and one (1) common share purchase warrant (a “WC Warrant”). Each WC Warrant entitles the holder to acquire one (1) common share at a price of $0.40 until the earlier of (i) June 7, 2020; and (ii) in the event that the closing price of the common shares on the TSX Venture Exchange is at least $0.60 for ten (10) consecutive trading days, and the 10th trading day (the “Final Trading Day”) is at least four (4) months from the Closing, the date which is thirty (30) days from the Final Trading Day.