December 15, 2009 Empire Mining Corporation Announces Completion of Private Placement
Vancouver, British Columbia, Canada. December 15, 2009. Empire Mining Corporation (EPC: TSX-V) (the "Company") is pleased to announce it has closed its previously-announced non-brokered private placement of 6,453,500 common shares at a price of $0.10 per share, for gross proceeds of $645,350.
Finders' fees were payable in connection with the private placement, equal to an aggregate of $10,360. All of the securities issued under the first tranche of the private placement are subject to a four-month hold period expiring on April 12, 2010, with additional hold periods applicable to US investors.
The proceeds of the private placement will be used for drilling at the Company's Bulqiza Chromite project in Albania.
ON BEHALF OF THE BOARD
"Robert Giustra"
Robert F. Giustra, Director
Neither the 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.
For more information contact:
Ray Lagace Investor Relations
604-638-3474 or 1-866-689-2599
This release contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"), respecting the Company's use of proceeds of the private placement. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements, including without limitation the ability to locate and dependence on finders; availability of qualified workers; risks associated with exploration projects; dependence on third parties for services; non-performance by contractual counterparties; title risks; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about: general business and economic conditions; the timing and receipt of required approvals; ability to procure equipment and supplies; and ongoing relations with employees, partners and joint venturers. The foregoing list is not exhaustive and we undertake no obligation to update any of the foregoing except as required by law.
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