Eastmain on TSE

A private company recently “gone public,” Eastmain Resources Inc. had its shares listed on the Toronto Stock Exchange this week.

This company has been carrying out an ambitious exploration program for gold on a large spread of ground it holds in the Eastmain River area of Northwestern Quebec on which it has spent some $2.3 million to date. It expects to spend a further $1.5 million, President E. M. Dillman tells The Northern Miner.

To finance this work, the company has sold 600,000 units at 50 cents , consisting of one common share and half a warrant. These warrants can be excercised by Sept 21 for common shares or flow-through shares at 75 cents per share.