By Devika Patel
Knoxville, Tenn., May 12 - Eagle Hill Exploration Corp. said it negotiated a C$3 million private placement of units. There is a C$750,000 greenshoe.
The company will sell 6 million flow-through units at C$0.25 apiece. Each flow-through unit consists of one flow-through common share and one half-share warrant.
The company also will sell 7.5 million non flow-through units at C$0.20 apiece. Each non flow-through unit consists of one common share and one warrant.
Each whole warrant is exercisable at C$0.30 for one year.
IBK Capital Corp. will be the lead agent of an investment dealer syndicate, which will include Laurentian Bank Securities Inc. and Industrial Alliance Securities Inc.
Proceeds will be used for exploration, development and general working capital.
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 common share and one half-share warrant, non flow-through units of one common share and one warrant
|
| Amount: | C$3 million
|
| Greenshoe: | C$750,000
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
| Agent: | IBK Capital Corp. (lead), Laurentian Bank Securities Inc. and Industrial Alliance Securities Inc.
|
| Pricing date: | May 12
|
| Stock symbol: | TSX Venture: EAG
|
| Stock price: | C$0.23 at close May 12
|
| Market capitalization: | C$13 million
|
|
|
| Flow-through units
|
| Amount: | C$1.5 million
|
| Units: | 6 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
|
|
| Non flow-through units
|
| Amount: | C$1.5 million
|
| Units: | 7.5 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
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