Eagle Hill Announces Flow-Through Financing
Eagle Hill
Exploration Corporation (TSX VENTURE:EAG.V - News) ("Eagle Hill" or the "Company") is pleased to
announce a private placement financing (the "Financing"). The total
issuance under the Financing will be up to 36,363,636 flow-through shares at
$0.165 per flow-through share (the "Shares"), for gross proceeds of
up to $6,000,000.
IBK Capital
Corp. is acting as lead agent (the "Agent") on a best efforts basis.
The Company will pay the Agent a cash fee equal to 7% of the gross proceeds
raised in connection with the Financing. In addition, the Agent will receive
agent compensation warrants equal to 7% of the Shares issued (the "Agent's
Warrants"). Each Agent's Warrant allows the Agent to acquire one common
share of Eagle Hill for a purchase price of $0.165 per share exercisable for 24
months after the closing date.
The Financing
will be subject to TSX Venture Exchange and regulatory approval. Gross proceeds
of the Financing will be used for further exploration and development of the
Windfall Lake Property.
About the
Windfall Lake Property
The Windfall
Lake Property is comprised of 362 contiguous claims (over 12,000 hectares) in
the Abitibi mineralized belt of northern Quebec. This area between Val-d'Or and
Chibougamau is known for its gold and copper
production and excellent infrastructure for exploration and mining.
Historically, the Windfall Lake Property has had extensive historic grassroots
exploration work. Along with its independently
acquired claims at the Windfall Lake Property. Eagle Hill has signed options
with Murgor Resources Inc., Cliffs Natural Resources
Inc. (formerly, Freewest Resources Canada Inc.), and Noront Resources Inc. to acquire the Windfall Lake
Property.
About Eagle
Hill Exploration Corporation
Eagle Hill
Exploration Corporation is a Canadian mineral exploration company focused on
the exploration and development of gold and precious metal prospects. The
Company is set to become an advanced stage gold and precious metals exploration
company with its acquisition of the Windfall Lake high grade gold project,
located in Urban Township, Quebec, between Val-D'Or and Chibougamau.
Eagle Hill seeks projects that contain or have potential to have large resource
potential. The Company's website at www.eaglehillexploration.com and public filings atwww.sedar.com provide additional information on its properties and other
information with respect to its management and operations.