Deal funds exploration and development at Windfall Lake Gold Deposit
By Devika Patel
Knoxville, Tenn., March 28 - Eagle Hill Exploration Corp. said it will conduct a C$3.5 million non-brokered private placement of units.
The company will sell about 35.7 million units of one common share and a half-share warrant at C$0.07 per unit for C$2.5 million and about 7.5 million flow-through units of one flow-through common share and a warrant at C$0.133 per unit for C$1 million.
Each whole warrant is exercisable at C$0.10 for two years. The strike price reflects a 42.86% premium to the March 27 closing share price of C$0.07.
Southern Arc Minerals Inc. and Dundee Corp. will participate.
Proceeds will be used for exploration and development of the Windfall Lake Gold Project.
Eagle Hill is a gold and precious metal exploration company based in Vancouver, B.C.
| Issuer: | Eagle Hill Exploration Corp.
|
| Issue: | Units of one common share and a warrant, flow-through units of one flow-through common share and a warrant
|
| Amount: | C$3.5 million
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Investors: | Southern Arc Minerals Inc. and Dundee Corp.
|
| Pricing date: | March 28
|
| Stock symbol: | TSX Venture: EAG
|
| Stock price: | C$0.07 at close March 27
|
| Market capitalization: | C$26.18 million
|
|
|
| Units
|
| Amount: | C$2.5 million
|
| Units: | 35.7 million (approximate)
|
| Price: | C$0.07
|
|
|
| Flow-through units
|
| Amount: | C$1 million
|
| Units: | 7.5 million (approximate)
|
| Price: | C$0.133
|
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