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Excelsior Mining announces $4 mln bought deal financing


Friday, 6 Jun 2014 07:58am EDT 

Excelsior Mining Corp:Enters into an agreement with Dundee Securities Ltd. to purchase, on a "bought deal" basis by way of a short form prospectus, 16,000,000 units at a price of $0.25 per Unit for total gross proceeds of $4,000,000.Each Unit shall consist of one common share of the company and one-half of one common share purchase warrant.Each whole common share purchase warrant shall entitle the holder thereof to acquire one Share at a price of $0.45 for a period of 24 months following the closing of the Offering.Offering is scheduled to close on or about June 30.Net proceeds to be used for the continued development of the company's Gunnison Copper Project and for working capital and general corporate purposes. 

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