May 05, 2011
NOT FOR DISSEMINATION INTO THE UNITED STATED OR THROUGH U.S. NEWS WIRE SERVICES
Vancouver, BC -- May 5, 2011 -- Ethos Capital Corp. (the "Company" or "Ethos") (TSX-V: ECC) (OTCQX: ETHOF) (FRANKFURT: 1ET) is pleased to announce that it has completed its previously announced fully marketed brokered private placement of 5,800,000 units (the "Units") at a price of $1.00 per Unit and 4,920,000 flow-through shares (the "FT Shares") at a price of $1.20 per FT Share for aggregate gross proceeds of $11,704,000 (the "Brokered Offering"). The Brokered Offering was completed by a syndicate of agents led by Canaccord Genuity Corp. and including Fraser Mackenzie Limited and Salman Partners Inc. (collectively the "Agents"). In addition, the Company completed a non-brokered private placement (the "Non-Brokered Offering") of 2,450,000 Units and 600,000 FT Shares on the same terms as the Brokered Offering for gross proceeds of $3,170,000. The total gross proceeds of the Brokered Offering and the Non-Brokered Offering were $14,874,000. Each Unit is comprised 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 until November 5, 2012.
In connection with the Brokered Offering, the Company paid to the Agents cash commissions in the aggregate amount of $702,240 and issued 643,200 broker warrants. Each broker's warrant is exercisable until November 5, 2012 to acquire one additional Unit at a price of $1.00 per Unit. In connection with the Non-Brokered Offering, the Company paid to five registered dealers finder's fees in the aggregate amount of $160,320 and issued 154,800 finder's warrants. Each finder's warrant is exercisable to acquire one additional Unit until November 5, 2012 at a price of $1.00 per Unit. All securities issued under the Private Placement are subject to a four-month hold period and are not tradable in Canada until September 6, 2011.
The net proceeds of this offering will be used to advance the Company's Canadian and Mexican projects and for general working capital purposes.
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
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, the Company's plans regarding the use of proceeds of the completed Offering. 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 Company's inability to secure the acceptance by the TSX Venture Exchange for its Hen and Bridget option agreements described in it's April 13, 2011 news release, accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, 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 Mexico 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.
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.