American Eagle Anounces $1,000,000 Private Placement
American Eagle Anounces $1,000,000 Private
Placement
TORONTO
,
Dec. 15, 2021
/CNW/ - American Eagle Gold Corp. (TSXV: AE) ("
American Eagle
" or
the "
Company
") would like to announce that it intends to complete a non-brokered private placement
(the "Offering") of up to 7,142,857 flow-through units of the Company (the "FT Units") at a price of
C$0.14
per FT Unit for gross proceeds to the Company of
C$1,000,000
. Each FT Unit will consist of
one common share of the Company to be issued as a "flow-through share" within the meaning of the
Income Tax Act (
Canada
) (each, a "FT Share") and one half of one common share purchase warrant
(each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one
common share at a price of
C$0.25
at any time two years from the closing of the Offering.
Proceeds from the Offering will be used for expanded exploration work at the Company's recently
purchased NAK project located in the Babine Copper-Gold Porphyry district in central British
Columbia.
The gross proceeds from the issuance of the FT Shares will be used for "Canadian Exploration
Expenses" (within the meaning of the Income Tax Act (
Canada
)) (the "Qualifying Expenditures"),
which will be renounced with an effective date no later than
December 31, 2021
to the purchasers of
the FT Shares in an aggregate amount not less than the gross proceeds raised from the issue of the
FT Shares. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the
Company will indemnify each subscriber of FT Shares for any additional taxes payable by such
subscriber as a result of the Company's failure to renounce the Qualifying Expenditures.
About American Eagle Gold Corp.
American Eagle Gold is traded on the TSX Venture Exchange under the symbol 'AE' and is focused
on exploring its flagship property, Golden Gate. The Property is situated on the Cortez Trend, which
hosts three large Carlin-type gold deposits operated by Barrick and Newmont's Joint Venture,
Nevada Gold Mines
(Pipeline,
Cortez Hills
and Goldrush). The Property is located 10 km south of
Cortez Hills and 5 km south of Goldrush and shows many of the same geological characteristics as
at the two deposit areas.
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.
Completion of the Offering and the purchase of the NAK project both remain subject to approval of
the TSX Venture Exchange. Certain information in this press release may contain forward-looking
statements. Forward-looking statements in this press release include, but are not limited to,
statements regarding completing of the Offering. This information is based on current expectations
that are subject to significant risks and uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking statements. American Eagle Gold
Corp. assumes no obligation to update the forward-looking statements, or to update the reasons
why actual results could differ from those reflected in the forward looking-statements unless and until
required by securities laws applicable to American Eagle Gold Corp. Additional information
identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian
securities regulators, which filings are available under American Eagle Gold Corp. profile at
www.sedar.com
.
SOURCE
American Eagle Gold Corporation
View original content:
http://www.newswire.ca/en/releases/archive/December2021/15/c2157.html
%SEDAR: 00051688E
For further information:
Anthony Moreau, Chief Executive Officer, Phone:
416.644.1567, Email:
[email protected], www.americaneaglegold.ca
CO: American Eagle Gold Corporation
CNW 18:06e 15-DEC-21