Brokered offering conducted to raise funds for mineral exploration
By Devika Patel
Knoxville, Tenn., Sept. 14 - Goldeye Explorations Ltd. said it plans a C$1.5 million private placement of units. Pope & Co. Ltd. is the agent.
The company will sell flow-through units at C$0.10 apiece. Each flow-through unit consists of one flow-through common share and one half-share warrant. Each whole warrant is exercisable at C$0.15 for two years.
The company also will sell units at C$0.10 apiece. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.125 for two years.
The strike prices represent 50% and 25% premiums, respectively, to the C$0.10 closing share price on Sept. 13.
Settlement is expected Sept. 28.
Proceeds will be used for mineral exploration, predominantly on Goldeye's Tyrrell Property in the Shining Tree area of Ontario, as well as for general and administrative purposes.
Goldeye is a Toronto-based mineral exploration company.
| Issuer: | Goldeye Explorations Ltd.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Price: | C$0.10
|
| Warrant expiration: | Two years
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| Agent: | Pope & Co. Ltd.
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| Pricing date: | Sept. 14
|
| Settlement date: | Sept. 28
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| Stock symbol: | TSX Venture: GGY
|
| Stock price: | C$0.10 at close Sept. 13
|
| Market capitalization: | C$12.75 million
|
|
|
| Flow-through units
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.15
|
|
|
| Ordinary units
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| Warrants: | One warrant per unit
|
| Warrant strike price: | C$0.125
|
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