|April 11, 2008|
Empire Mining Announces Closing Of Private Placement
| ||Vancouver, British Columbia, Canada. April 10, 2008. Empire Mining Corporation (EPC: TSXV) ("Empire" or the "Company") is pleased to announce that it has closed its brokered private placement previously announced on March 14, 2008. The Company has received gross proceeds of $1,623,039.60 through the issuance of 5,410,132 units. The units were sold at a price of $0.30 per unit and are comprised of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.38 per common share at any time prior to October 10, 2009.|
Canaccord Capital Corporation (the "Agent") received a cash commission of 8% of the gross proceeds raised payable in cash and agent's warrants equal to 8% of the units sold entitling the Agent to acquire common shares at a price of $0.38 per share until October 10, 2009. All securities issued pursuant to this financing are subject to a four month hold period expiring August 11, 2008.
The net proceeds of the private placement will be used for general working capital and for exploration and development of the Company's Bursa Property.
ON BEHALF OF THE BOARD,
Robert F. Giustra
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this news release.
For more information contact:
604-638-3474 or 1-866-689-2599
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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