EDM Resources Inc (TSE:EDM) has released an update.
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EDM Resources Inc. has launched a non-brokered private placement to raise C$1,250,000 by offering over 11 million units at C$0.11 each, which include share purchase warrants with a 36-month exercise period. The funds from this placement are earmarked for environmental and permitting work at Scotia Mine and general corporate expenses. The offering is pending approval from the TSX Venture Exchange and will involve transactions with company insiders, which are exempt from certain regulatory requirements.
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