11:52 AM EDT, 04/07/2025 (MT Newswires) -- Eminent Gold ( EMGDF ) on Monday said it intends to raise up to $5 million from a non-brokered private placement of share units

The company is looking to place up to 12.5-million units priced at at $0.40 and made up of a share and a two-year warrant to buy a second share for $0.70..

Kinross Gold ( KGCRF ) committed to buying an equity position of 9.9% of the company's issued and outstanding common shares as part of this financing. Closing of Kinross' investment in the company is conditional on the execution of an investor rights agreement between the company and Kinross.

"These funds will allow us to advance drilling efforts at HSRP, along with our newly acquired Celts project, an analogue to Silicon, accelerating us toward our objective of delivering significant value to shareholders during a gold breakout in one of the world's premier jurisdictions," said Eminent Gold Chief Executive Paul Sun.

Eminent shares were last seen up $0.02 to $0.37 on the TSX Venture Exchange.

Price: 0.37, Change: +0.02, Percent Change: +5.80