October 14, 2009 (FinancialWire) — Edgewater Exploration Ltd. (TSX Venture: EDW) announced a non-brokered, private placement financing consisting of 7.5 million units at a price of $0.05 per unit for gross proceeds of $375,000.

Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant will allow the holder to purchase one common share in Edgewater for a period of two years from closing at a price of $0.10 per share. There is no commission or finder’s fee payable on the financing. The private placement is subject to regulatory approval. The proceeds of the private placement will be used by the company for general working capital.

Edgewater is a mineral exploration company and has an option on the Troy Property in north-eastern Ontario.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.