Eagle Plains Announces Financing
Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:CDNX) announces that it intends to complete a private placement to arms length investors in the United States. Application will be filed with the CDNX to sell up to 2.5 million units consisting of 2.5 million common shares at a price of $.15 CDN and 2.5 million warrants exercisable for a period of two years at a price of $.20 CDN per share. A finders fee of up to 10% of gross proceeds will be paid, with maximum gross proceeds of the offer expected to be $375,000. The financing is anticipated to close by late July.
Funds generated by the financing will be used by the company for administrative purposes, and to advance exploration on a number of its gold and base-metal properties in British Columbia and Yukon.
Eagle Plains owns a 100% interest in over twenty base metal and precious metal properties in western Canada. Over the past three years, the company has succeeded in attracting Canadian and international option partners including Billiton Metals, Kennecott Canada Exploration Ltd., Rio Algom Exploration Ltd., Newmont Canada Exploration, Viceroy Resources, and others. Eagle Plains is well-funded, and is aggressive in its efforts to carry out responsible, effective exploration activities throughout its theatre of operation.
On behalf of the Board of Directors
“Tim J. Termuende”
President and CEO
Cautionary Note Regarding Forward-Looking Statements
Neither the 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. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.