Brokered offering's proceeds will fund exploration on Tyrrell Property
By Devika Patel
Knoxville, Tenn., Sept. 30 - Goldeye Explorations Ltd. said it completed a private placement of units that priced for C$1.5 million on Sept. 14 and was lifted to about C$4 million on Sept. 15. The deal was further increased to C$4.18 million on Tuesday.
Pope & Co. Ltd. was the agent.
The company sold flow-through units at C$0.10 apiece for C$1.78 million. 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 sold units at C$0.10 apiece for C$2.4 million. 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 to C$0.10, the Sept. 13 closing share price.
Proceeds will be used 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$4,182,500
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Price: | C$0.10
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Warrant expiration: | Two years
|
Agent: | Pope & Co. Ltd.
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Pricing date: | Sept. 14
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Upsized: | Sept. 15, Sept. 28
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Settlement date: | Sept. 30
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Stock symbol: | TSX Venture: GGY
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Stock price: | C$0.10 at close Sept. 13
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Market capitalization: | C$14.02 million
|
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Flow-through units
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Amount: | C$1,782,000
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Warrants: | One half-share warrant per unit
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Warrant strike price: | C$0.15
|
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Ordinary units
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Amount: | C$2,400,500
|
Warrants: | One warrant per unit
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Warrant strike price: | C$0.125
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