Deal consists of 16 million shares sold at C$0.25, a 12.28% discount
By Devika Patel
Knoxville, Tenn., May 2 - Eagle Hill Exploration Corp. said it took in C$4 million in a private placement of stock. The oversubscribed deal, which priced for C$3 million with a C$1 million greenshoe on April 12, was conducted via lead agent IBK Capital Corp. and joint broker VSA Capital Ltd.
The company sold 16 million common shares at C$0.25 per share on a best-efforts basis. Of the shares, 4 million were part of the fully exercised greenshoe. The price per share is a 12.28% discount to C$0.285, the April 11 closing share price.
Proceeds will be used for exploration and development of the Windfall Lake Property and for general working capital.
Eagle Hill is a capital pool company based in Vancouver, B.C.
| Issuer: | Eagle Hill Exploration Corp.
|
| Issue: | Common stock
|
| Amount: | C$4 million (including C$1 million greenshoe exercise)
|
| Shares: | 16 million
|
| Price: | C$0.25
|
| Warrants: | No
|
| Agents: | IBK Capital Corp. (lead), VSA Capital Ltd.
|
| Pricing date: | April 12
|
| Settlement date: | May 2
|
| Stock symbol: | TSX Venture: EAG
|
| Stock price: | C$0.285 at close April 11
|
| Market capitalization: | C$23.38 million
|
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