TORONTO, ONTARIO -- (Marketwired) -- 08/19/13 -- Goldeye Explorations Limited (TSX VENTURE: GGY) wishes to announce the closing of the second tranche of a partially brokered private placement previously announced on June 17, 2013. The first and second tranche together resulted in gross proceeds of $478,500 from the sale of 6,250,000 non flow-through units at $0.05 per unit and 3,320,000 flow-through units at $0.05 per unit. Each non flow-through unit consists of one common share and one common share purchase warrant with each warrant entitling the holder to purchase one additional common share for 24 months at a price of $0.10 per share. Each flow-through unit consists of one common share and one-half of a common share purchase warrant with each whole warrant entitling the holder to purchase one additional common share for 12 months at a price of $0.10 per share.
Goldeye paid a total of $35,825 cash commissions and issued a total of 346,500 agent's broker warrants in connection with this financing. All of the securities will be subject to a four month hold period.
The proceeds of the flow-through financing will be used for mineral exploration on Goldeye's Weebigee Project near Sandy Lake, Ontario qualifying as Canadian Exploration Expense (CEE) under the Income Tax Act (Canada) enabling the subscriber to obtain applicable tax credits and deductions. The non flow-through financing will be used for costs of the private placement, general administrative expenses and overhead, and exploration on the Weebigee Project.
Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions with long traditions of mining. In Canada, Goldeye holds a 24.5% interest in the Todd Property in British Columbia, a 100% interest in the Gold Rock, Sandy Lake and Leonard-Fawcett 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.
On behalf of the board of directors of Goldeye Explorations Limited
Blaine Webster, Chief Executive Officer
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 Financing: 31,618,642
Goldeye Explorations Limited
Chief Executive Officer
Most Popular Stories
- American Airlines, US Airways Complete Merger
- ACA Delay Stresses Small Businesses
- Questions Remain in Jenni Rivera's Death
- Unemployed Wait as Lawmakers Debate
- General Dynamics Plans 200 New Jobs in N.M.
- Harley Issues Motorcycle Recall
- Dell Offers Undisclosed Number of Employee Buyouts
- Saab Gets Back into the Game; U.S. Auto Sales Soar
- Auto Dealer Builds Big Solar Project
- Authorities Close to Deal with JPMorgan Chase over Madoff Response