By Sheri Kasprzak
New York, Dec. 20 - Eagle Plains Resources Ltd. said it has concluded a private placement for C$1,310,735.
The company issued 1,276,427 non flow-through units at C$0.70 each and 417,237 flow-through shares at C$1.00 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$1.00 each for two years.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$1.00 for more than 10 consecutive trading days.
The offering was first announced Nov. 10 as a C$790,000 offering of 300,000 flow-through shares and up to 700,000 units under the same terms. It was upsized to C$1.17 million on Nov. 17.
Proceeds will be used for exploration on the company's assets in British Columbia.
Based in Cranbrook, B.C., Eagle Plains is a gold and base metals exploration and development company.
Issuer: | Eagle Plains Resources Inc.
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Issue: | Flow-through shares and units of one share and one warrant
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Amount: | C$1,310,735
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Pricing date: | Nov. 10
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Upsized: | Nov. 17
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Settlement date: | Dec. 19
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Stock price: | C$0.70 at close Nov. 10
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Stock price: | C$0.70 at close Nov. 17
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Stock price: | C$0.74 at close Dec. 19
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Flow-through shares
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Shares: | 417,237
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Price: | C$1.00
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Warrants: | No
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Units
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Units: | 1,276,427
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Price: | C$0.70
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$1.00
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