VANCOUVER, British Columbia, Sept. 10, 2012 (GLOBE NEWSWIRE) -- ("Eagle Mountain" or the "Company") (Z:TSX-V) (OTCQX:SDMTD) (Frankfurt Boerse:E9X) The Company announces it has closed a first tranche (the " 1st Tranche") financing for total gross proceeds of $322,750 by the issuance of 2,390,740 units (each a " Unit") at a price of $0.135 per Unit . Each Unit consists of one common share (a "Share") and one transferable share purchase warrant (a " Warrant"). Each Warrant entitles the holder to purchase one common share (a " Warrant Share") at a price of $0.18 until September 10, 2017, being 5 years from the closing of the 1st Tranche. The Company will pay a finder's fee of $25,819.99 to Weiser Capital Limited. This closing represents the first of several proposed tranches of the Company's previously announced non-brokered private placement. All securities issued above are subject to a hold period expiring on January 11, 2013, being 4 months and 1 day after closing of the 1st Tranche. The proceeds of the Private Placement will be used to fund the advancement of the Company's Eagle Mountain Project in Guyana, and for general working capital. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " US Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. On behalf of The Board of Directors of Eagle Mountain Gold Corp. "Ioannis (Yannis) Tsitos" President, CEO & Director This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the corporations control which may cause actual results, performance or achievements of the corporation's to be materially different from the results, performance or expectation implied by these forward looking statements. 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.
The Eagle Mountain Gold Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13828
CONTACT: Ioannis (Yannis) Tsitos 604.806.0916 email@example.com