Proceeds slated for exploration, development of Windfall Lake property
By Toni Weeks
San Diego, Feb. 14 - Eagle Hill Exploration Corp. said it settled a private placement of flow-through shares with lead agent IBK Capital Corp. The best-efforts financing was arranged by Oberon Capital Corp.
The company sold 43,636,364 flow-through shares at C$0.165 each. The price represents a 3.13% premium to C$0.16, the company's closing price on Jan. 10.
The company said it also sold 29.5 million common shares at C$0.10 per share to Dundee Corp. following the private placement. Dundee now has a 19% ownership stake in the company on a partially diluted basis.
Proceeds will be used for exploration and development of the Windfall Lake property, which comprises 362 contiguous claims over 12,000 hectares in the Abitibi mineralized belt of northern Quebec.
Eagle Hill is a gold and precious metal exploration and development company based in Vancouver, B.C.
| Issuer: | Eagle Hill Exploration Corp.
|
| Issue: | Flow-through stock
|
| Amount: | C$7.2 million
|
| Shares: | 43,636,364
|
| Price: | C$0.165
|
| Warrants: | No
|
| Agent: | IBK Capital Corp. (lead)
|
| Pricing date: | Jan. 11
|
| Settlement date: | Feb. 14
|
| Stock symbol: | TSX Venture: EAG
|
| Stock price: | C$0.16 at close Jan. 10
|
| Market capitalization: | C$16.76 million
|
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