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Evermount Ventures closes private offering of common stock

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Evermount Ventures closes private offering of common stock

Evermount Ventures Inc. closed its non-brokered private placement financing of 3.5 million common shares at 10 cents apiece for $350,000.

All shares issued are subject to a restricted period of four months and one day from the date of closing. The company intends to use the proceeds for its working capital purposes.

After the offering closed, Zhigang Wang and Jin Kuang resigned as company directors. Wen Jin and Gong Chen will replace them on the board, and Kuang will continue as CFO.

Jin and Chen subscribed in the private offering and each of them may be considered a related party of the company.