Agoracom: Small Cap Investment - Eaglecrest Explorations

San Simon Project - Bolivia

Accelerate the development of San Simon into a world class Gold mine.

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Eaglecrest closes $3.3-million PP

posted on Jan 14, 2009 09:05AM

Eaglecrest closes $3.3-million (U.S.) private placement

2008-10-20 16:19 ET - News Release

Mr. Hans Rasmussen reports

EAGLECREST CLOSES US$3,305,770 PRIVATE PLACEMENT FINANCING

Eaglecrest Explorations Ltd. has completed the non-brokered private placement of 33,057,700 units announced in Stockwatch news on July 30, 2008, realizing gross proceeds of $3,305,770 (U.S.). Each unit comprises one common share and one-half warrant, with one full warrant exercisable to purchase one additional common share in the capital of the company for 20 U.S. cents until 4:30 p.m. on Sept. 17, 2009.

All shares issued in connection with the private placement and any shares issued on exercise of warrants comprised in those units will be subject to a four-month hold period expiring Jan. 17, 2009. A finder's fee has been paid in connection with a portion of the private placement in accordance with the policies of the TSX Venture Exchange.