TSX-V:ELY
VANCOUVER, Aug. 19, 2016 /CNW/ - Ely Gold & Minerals Inc. ("Ely Gold"
or the "Company") (TSX-V: ELY, OTC: ELYGF) announces a proposed
non-brokered private placement consisting of up to 8,000,000 units
(the "Units") at a price of C$.14 per
Unit, for gross proceeds of C$1,120,000 (the "Offering"). The Units will be
comprised of one common share and one-half of one share purchase
warrant. One whole warrant will entitle the holder to purchase one
common share for a period of two years at a price of C$.20 per share.
The Company may, in appropriate circumstances, pay a finder's
fee comprising cash and/or securities in connection with the
Offering. The Offering is subject to TSX Venture Exchange
acceptance. All Securities issued pursuant to the Offering will be
subject to a four-month hold period from the closing date. The
proceeds from the Offering will be used for property acquisition,
royalty acquisition and for general corporate expenses.
About Ely
Gold
Ely Gold is
focused on developing recurring cash flow streams through the
acquisition, consolidation, enhancement, and resale of highly
prospective, un-encumbered North American precious metals
properties. Ely's property development efforts maximize each
property's potential for acquisition, while reserving significant
royalty interests. Additional information about Ely Gold is available at the Company's website,
at www.elygoldinc.com
On Behalf of the Board of Directors
Signed "Trey Wasser"
Trey
Wasser, President & CEO
Neither 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. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore, involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
SOURCE Ely Gold & Minerals
Inc.