Vancouver, British Columbia--(Newsfile Corp. - February 13, 2020) - Eclipse Gold Mining Corporation (TSXV: EGLD) ("Eclipse" or "the Company") announced today that, subject to regulatory approval, it has retained Mackie Research Capital Corporation to provide market making services to the Company in compliance with the policies and guidelines of the TSX Venture Exchange ("TSXV") and other applicable legislation.
Mackie will trade shares of Eclipse on the TSXV for the purposes of maintaining a reasonable market and improving the liquidity of Eclipse's common shares. The agreement between Mackie and the Company is for a one-year term and the Company has agreed to pay Mackie $5,000 per month during the term, payable quarterly in advance. The engagement may be terminated by either party with written notice of 30 days. The Company and Mackie act at arm's length, but Mackie may provide investment banking services to Eclipse and Mackie and/or its clients may have an interest, directly or indirectly, in the securities of Eclipse. The agreement is principally for the purposes of maintaining market stability and liquidity for the Company's common shares. There are no performance factors contained in the agreement between Mackie and the Company and Mackie will not receive any shares or options from the Company as compensation for services it will render.
About Mackie Research Capital Corporation
Mackie is one of Canada's largest independent full-service investment firms, and proudly traces its roots back to 1921. Mackie is privately owned by many of its 300 employees. As a fully integrated national investment dealer, Mackie offers a full complement of capital markets and wealth management services to private clients, institutions and growth companies.
About Eclipse Gold Mining
Eclipse Gold Mining is exploring the district-scale Hercules gold property within the Walker Lane. The Hercules property is located only a one-hour drive from Reno, Nevada. The Company brings together a team with collective funding of over $2 billion in both strong and weak markets and a track record of at least ten successful buyouts/exits. Our strategy is to begin with the end game in mind: deliver wealth-generating liquidity for shareholders through a major discovery. The Company's common shares will commence trading on the TSXV on February 18, 2020.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael G. Allen
President, CEO and Director
Forward looking and other cautionary statements
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This press release includes "forward-looking information" that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company's common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company's final prospectus dated February 6, 2020 and filed under the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52418