Goldeye Explorations Limited Announces Completion of First Tranche of a Private Placement
December 23 2013 - 8:02AM
Marketwired
Goldeye Explorations Limited Announces Completion of First Tranche
of a Private Placement
TORONTO, ONTARIO--(Marketwired - Dec 23, 2013) - Goldeye
Explorations Limited (TSX-VENTURE:GGY) wishes to announce
completion of the first tranche of a partially brokered private
placement of up to a total of $1,500,000 offered through the sale
of a combination of (i) up to 15,000,000 hard dollar units at $0.10
per unit; and (ii) up to 13,636,364 flow-through units at $0.11 per
unit. Each hard dollar unit consists of one common share and one
warrant. Each flow-through unit consists of one flow-through common
share and one-half of a warrant. Each whole warrant entitles the
holder to purchase one additional common share for 24 months at a
price of $0.15 per share. To date, the financing resulted in gross
proceeds of $525,320 from the sale of 4,230,182 flow-through units
and 600,000 hard dollar units.
Goldeye paid a total of $36,772 in commissions (7%) in
connection with this initial closing. All of the securities will be
subject to a four month hold period.
Goldeye previously announced (News Release - November 18, 2013)
that it has entered into an exploration agreement with Sandy Lake
First Nation (SLFN) regarding Goldeye's mineral exploration
activities on its Weebigee Project at Sandy Lake in the Red Lake
Mining District, Northwestern Ontario. The Agreement and its
implementation were subject to the approval of the TSX Venture
Exchange. Such approval was subsequently received and Goldeye has
issued 500,000 of its common shares to SLFN to cover the initial
term of the exploration agreement.
The proceeds of the flow-through financing will be used to carry
out mineral exploration on the Weebigee Project that qualifies as
Canadian Exploration Expenses (CEE) under the Income Tax
Act (Canada), enabling the subscriber to obtain applicable tax
credits and deductions. The hard dollar financing will be used to
pay costs of the private placement, general administrative expenses
and overhead.
Blaine Webster, President and Chief Executive Officer of Goldeye
commented, "The fact that Goldeye has been able to successfully
finance in such a difficult market shows the confidence that
investors have in the potential of Goldeye's high-grade Weebigee
Project. Goldeye expects a second tranche of the financing to close
before the end of the year. A 2500 m drill program will commence in
early February after personnel and equipment are mobilized to the
project via winter road."
On behalf of the Board of Directors,
Blaine Webster, P.Geo., President and CEO
ABOUT GOLDEYE
Goldeye is a Canadian gold-focused exploration company with
properties in mineral rich, politically secure jurisdictions having
long traditions of mining. Weebigee is Goldeye's flagship project.
In Canada, Goldeye also holds a 24.5% interest in the Todd Property
in British Columbia's Golden Triangle, a 100% interest in the Gold
Rock and West Shining Tree properties in Ontario, and additional
claims in Tyrrell Twp. In Chile, Goldeye owns 100% of the
Sonia-Puma property located 180 km north of Santiago. Additional
information can be found at www.goldeye.ca.
PLEASE NOTE OUR NEW ADDRESS
100
West Beaver Creek Rd., Unit 2 |
Richmond Hill, Ontario |
L4B
1H4 |
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking information which is
not comprised of historical facts. Forward-looking information
involves risks, uncertainties and other factors that could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Such statements include the following:
"Goldeye expects a second tranche of the financing to close before
the end of the year" and "A 2500 m drill program will commence in
early February after personnel and equipment are mobilized to the
project via winter road". Although the Company believes that the
assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all. The
Company disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Shares Issued after First Tranche Financing: 35,828,824
Goldeye Explorations LimitedBlaine Webster, P. Geo.President and
CEO416-315-9708bwebster@goldeye.caGoldeye Explorations LimitedRobin
Luke WebsterManager, Corporate Affairs and Community
Relations416-877-6389rwebster@goldeye.cawww.goldeye.ca
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