By Devika Patel
Knoxville, Tenn., Dec. 22 - Eaglecrest Explorations Ltd. said it arranged a non-brokered private placement of units for $1.5 million.
The company will sell 30 million units at $0.05 apiece. The units each consist of one common share and one warrant, with each warrant exercisable at $0.10 for one year.
Proceeds will be used to fund ongoing operations at the company's San Simon exploration project and for general working capital.
Based in Vancouver, B.C., Eaglecrest is a gold exploration company.
| Issuer: | Eaglecrest Explorations Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $1.5 million
|
| Units: | 30 million
|
| Price: | $0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | $0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 22
|
| Stock symbol: | TSX Venture: EEL
|
| Stock price: | $0.03 at close Dec. 22
|
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