By Devika Patel
Knoxville, Tenn., Oct. 12 - Eaglecrest Explorations Ltd. announced it plans a $4.77 million private placement of units.
Eaglecrest will sell 36,706,361 units at $0.13 apiece. Each unit consists of one share and warrant. The two-year warrants are exercisable at $0.15 for the first year and at $0.30 thereafter.
Proceeds will be used to continue the company's infill and delineation drilling program at its San Simon gold project in Bolivia.
Based in Vancouver, B.C., Eaglecrest is a gold exploration company.
| Issuer: | Eaglecrest Explorations Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | $4,771,827
|
| Units: | 36,706,361
|
| Price: | $0.13
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.15 in the first year; $0.30 in the second year
|
| Pricing date: | Oct. 12
|
| Stock symbol: | TSX Venture: EEL
|
| Stock price: | C$0.145 at close Oct. 11
|
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