Eastmain Resources Inc. (TSX:ER) announced a non-brokered private placement of up to CAD 2,000,000 on February 21, 2020. The company will issue 5,000,000 hard units at a price of CAD 0.10 per hard unit for proceeds of CAD 500,000. Each hard unit will consist of one common share and one-half of one common share purchase warrant, which entitles the holder to acquire one additional common share at an exercise price of CAD 0.13 for two years from the closing. The company will issue any combination of hard units, flow-through shares in any combination of Quebec flow-through common shares at a price of CAD 0.12 per Quebec flow-through common share and Federal flow-through common shares at a price of CAD 0.115 per Federal flow-through common share, for the remaining balance of the gross proceeds. The transaction is subject to the approval of the Toronto Stock Exchange and the securities regulatory authorities. The company expects to the close the transaction on or about March 5, 2020.