Targeting 1 million oz in mining/exploration-friendly Quebec

In North America, the Company is set to become an advanced stage gold and precious metal exploration company with its acquisition of the Windfall Lake Property, located near Val d'Or, Quebec.

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Message: Third Tranche of private placement closes

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alteridem

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Re: Third Tranche of private placement closes

in response to Third Tranche of private placement closes by Notie Girl

posted on Oct 16, 09 08:15AM

Thanks for posting this Notie.

Just a quick note regarding this third tranche as some may look at it and wonder why ten cents when we're trading at fifteen?

This is still part of the financing which was announced on Aug-12 (and increased on Aug-27). Price was set on Aug 05 for 16.75mm common share units(CSU) at $.10 and 10mm flow through units(FTU) at $.15 for gross proceeds to EAG of $3.175 million,

Closings(tranches) released to EAG thus far have been.

1. Aug-31, 1.75mm CSU

2. Sept-25, 13.25mm CSU and 6.166,666 FTU

3. Oct-15, 1.75 CSU and 2.166667 FTU

By my math, all of the Common share units are now issued with funds received and there are 1.666667 Flow through units at $0.15 left to close.

Hope this makes sense.

Cheers
ai

ps. Tried to get a hold of Brad, but my call went to voicemail, awaiting a call back.

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