Vancouver, BC — April 13, 2011 — Ethos Capital Corp. (the “Company” or “Ethos”) (TSX-V: ECC) (OTCQX: ETHOF) (FRANKFURT: 1ET) is pleased to announce that it has engaged Canaccord Genuity Corp. (the “Agent”) to act as agent in connection with a proposed private placement for gross proceeds of up to $15,000,000 (the “Offering”). The proceeds will be raised by the issuance of any combination of units and flow-through shares of Ethos at a price of $1.00 per unit (the “Unit Offering Price”) and $1.20 per flow-through share, subject to a maximum of $5,000,000 issued in flow-through shares.
Each unit will consist of one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of $1.35 per share, for a period of 18 months following the date of closing.
The proceeds of this Offering will be used to advance the Company’s Canadian and Mexican projects and for general working capital purposes.
In connection with the Offering, the Company will pay to the Agent a cash commission equal to 6% of the aggregate proceeds from the offering of the units and flow-through shares and issue to the Agent broker warrants, exercisable for a period of 18 months from the closing date of the Offering, to acquire in aggregate that number of units of the Company which is equal to 6% of the number of units and flow-through shares sold pursuant to the Offering exercisable at the Unit Offering Price.
The closing of the Offering is expected to occur on May 5, 2011 or such earlier or later date as may be agreed upon by Ethos and the Agent.
Terms of the Offering are subject to acceptance by the TSX Venture Exchange.
About Ethos Capital Corp.
Ethos is a junior mining company focused on the exploration and development of its mineral property prospects located in recognized mineralized belts, in areas that are politically stable, mining-friendly and hospitable to exploration and development. The Company’s principal assets are its substantial mineral land positions in the heart of the emerging White Gold / Klondike gold district, as well as its Santa Teresa and Corrales silver-zinc-lead properties in Mexico.
For additional information please contact Gary Freeman or Andy Hay at 604-682-4750.
Ethos Capital Corp.
Gary Freeman, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions:
This press release may contain certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the Company’s planned 2019 exploration program for its Pine Pass project. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other governmental clearances, necessary to carry out the Company's exploration plans, and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects