By Devika Patel
Knoxville, Tenn., Aug. 31 - Eagle Hill Exploration Corp. said it raised C$175,000 in the first tranche of a C$3.75 million private placement of units. The deal priced for C$3 million Aug. 12 and was increased to its current size on Aug. 27.
The company is selling flow-through units at C$0.15 apiece. Each unit consists of one flow-through share and one half-share warrant.
It also is selling non flow-through units at C$0.10 per unit. Each of these units consists of one common share and one warrant.
The whole warrants are exercisable at C$0.20 for one year.
In this tranche, Eagle Hill sold 1.75 million units.
IBK Capital Corp. is the agent.
Proceeds will be used for exploration.
Eagle Hill is a capital pool company based in Vancouver, B.C.
| Issuer: | Eagle Hill Exploration Corp.
|
| Issue: | Flow-through units of one flow-through share and one half-share warrant; non flow-through units of one common share and one warrant
|
| Amount: | C$3.75 million
|
| Warrant strike price: | C$0.20
|
| Warrant expiration: | One year
|
| Agent: | IBK Capital Corp.
|
| Pricing date: | Aug. 12
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| Upsized: | Aug. 27
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| Settlement date: | Aug. 31 (for C$175,000)
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| Stock symbol: | TSX Venture: EAG
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| Stock price: | C$0.12 at close Aug. 12
|
| Market capitalization: | C$3.47 million
|
|
|
| Flow-through units
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
|
|
| Non flow-through units
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
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