Partially brokered offering conducted to raise funds for exploration
By Devika Patel
Knoxville, Tenn., Sept. 7 - Goldeye Explorations Ltd. said it has arranged a C$4.45 million partially brokered private placement of units.
The company will sell 10 million flow-through units of one flow-through common share and one half-share warrant at C$0.15 per unit. Each whole warrant is exercisable at C$0.15 for two years.
The company also will sell 12 million units of one common share and one warrant at C$0.125 per unit. Each warrant is exercisable at C$0.125 for two years.
In addition, Goldeye will sell 2 million mixed units of one common share, four flow-through common shares and three warrants at C$0.725 per unit.
Each whole warrant is exercisable at C$0.20 for three years. The strike price is a 25% premium to C$0.16, the Sept. 6 closing share price.
Proceeds will be used for exploration on Goldeye's Canadian properties and to pay commissions and costs, general and administrative expenses and working capital.
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, mixed units of one common share, four flow-through common shares and three warrants
|
| Amount: | C$4.45 million
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.20
|
| Pricing date: | Sept. 7
|
| Stock symbol: | TSX Venture: GGY
|
| Stock price: | C$0.16 at close Sept. 6
|
| Market capitalization: | C$3.04 million
|
|
|
| Flow-through units
|
| Amount: | C$1.5 million
|
| Units: | 10 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
|
|
| Units
|
| Amount: | C$1.5 million
|
| Units: | 12 million
|
| Price: | C$0.125
|
| Warrants: | One warrant per unit
|
|
|
| Mixed units
|
| Amount: | C$1.45 million
|
| Units: | 2 million
|
| Price: | C$0.725
|
| Warrants: | Three warrants per unit
|
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