E-Tech arranges $950,000 private placement

Executive Summary

• E‑Tech Resources Inc. announces a private placement to raise up to $950,000 by selling up to 19 million shares at $0.05 per share.
• The financing is being facilitated by Numus Capital Corp., which will receive a 7% cash fee on proceeds from investors it introduces and be issued compensation warrants for an equivalent 7% of the shares sold (ex‑director/employee subscriptions).
• Net proceeds will be used to advance exploration at the Eureka rare‑earth project in Namibia, as well as for working capital and general corporate purposes.

Key Details

• Offering size: Up to 19 million common shares (≈$950,000) at $0.05 per share.
• Agent: Numus Capital Corp., a registered exempt market dealer, acting as placement agent.
• Agent compensation:
• Cash fee equal to 7% of proceeds from investors introduced by the agent (excluding subscriptions from directors, officers, employees and their affiliates).
• Compensation warrants granting the agent the right to purchase shares equal to 7% of the shares sold to those investors, exercisable at $0.05 per share for 24 months after closing.
• Use of proceeds:
• Advance exploration activities on the Eureka project (Namibia).
• Working capital.
• General corporate purposes.
• Closing conditions: Subject to approval by the TSX Venture Exchange and a four‑month‑and‑one‑day hold period on all securities issued.
• Related‑party considerations: The transaction may be deemed a related‑party transaction under MI 61‑101; E‑Tech is relying on an exemption because any related‑party element will not exceed 25% of market capitalization.
• Project context: Eureka project located ~250 km NW of Windhoek, 140 km east of Walvis Bay, within exclusive prospecting licence EPL 6762; company also has a definitive agreement to acquire an 85% interest in adjacent permit EPL 8748.

Notable Quotes

(No direct quotes were provided in the release.)