Eaglecrest Announces Its Private Placement Is Oversubscribed
22 Diciembre 2010 - 7:06PM
Marketwired
EAGLECREST EXPLORATIONS LTD. ("Eaglecrest"; the "Company") (TSX
VENTURE: EEL)(PINK SHEETS: ECRTF)(FRANKFURT: EAT) is pleased to
announce that the $6,000,000 financing announced on November 19,
2010 has been increased to $6,441,778.20(CDN).
The non-brokered private placement will now consist of
21,472,594 units issued at a price of $0.30 per unit. Each unit is
comprised of one common share of the Company and one warrant
exercisable to purchase one additional share of the Company for
$0.45 for a period of 24 months from Closing; provided that if
after the issuance of the warrants the average closing trading
price of the common shares of the Company is $0.75 or higher for a
period of 20 consecutive trading days, the Company may issue a
notice that the warrants must be exercised within 21 days of the
date of the notice or they will expire at the end of that 21 day
period. Finders' fees will be paid in cash and/or in securities of
the Company in accordance with Exchange policies. In addition, the
Company has agreed to issue 100,000 units as a corporate finance
fee. The financing remains subject to acceptance by the TSX Venture
Exchange.
About Eaglecrest
Eaglecrest Explorations Ltd. is systematically exploring
promising gold projects in Colombia and Bolivia. The management and
geologic teams at Eaglecrest are comprised of industry experts
involved in gold discoveries over the past three decades with both
junior and major mining companies. With this seasoned team and the
increased sentiment towards gold, Eaglecrest looks to accelerate
the capitalization of its Bolivian asset, while shifting focus to
securing interests in and initiating the exploration programs at
the Fredonia and Venecia projects, Colombia, south of Medellin.
If you would prefer to receive news releases via email please
contact Eaglecrest (eel.tsxv@telus.net) and specify "Eaglecrest
news" in the subject line.
Please visit the Company's website at
www.eaglecrestexplorations.com.
Neither the TSX Venture nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture) accepts
responsibility for the adequacy or accuracy of this release.
Contacts: Eaglecrest Explorations Ltd. Hans Rasmussen President
and CEO 604-684-7160 hans@eaglecrestexplorations.com
www.eaglecrestexplorations.com
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