By Laura Lutz
Des Moines, Nov. 10 - Eagle Plains Resources Ltd. plans to complete a private placement for C$2.12 million.
The company plans to sell up to 2 million flow-through units of one flow-through share and one non flow-through warrant at C$0.80 each and up to 800,000 non flow-through units of one non flow-through share and one non flow-through warrant at C$0.65 per unit.
Each whole warrant will be exercisable at C$1.00 for 18 months.
The expiry of the warrants may be accelerated to 30 days if the closing price of the company's shares is at least C$1.20 for any 10 consecutive trading days.
Proceeds will be used for working capital and for exploration on the company's projects in British Columbia, Yukon and the Northwest Territories.
The placement will be partially brokered and partially non-brokered.
Settlement is expected by Dec. 8.
Eagle Plains is a mineral exploration company based in Cranbrook, B.C.
| Issuer: | Eagle Plains Resources Ltd.
|
| Issue: | Units of one flow-through share and one non flow-through warrant and units of one non flow-through share and one non flow-through warrant
|
| Amount: | C$2.12 million
|
| Pricing date: | Nov. 10
|
| Settlement date: | Dec. 8
|
| Stock symbol: | TSX Venture: EPL
|
| Stock price: | C$0.69 at close Nov. 10
|
|
|
| Flow-through units
|
| Units: | 2 million
|
| Price: | C$0.80
|
| Warrants: | One per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.00
|
|
|
| Non flow-through units
|
| Units: | 800,000
|
| Price: | C$0.65
|
| Warrants: | One per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.00
|
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