Eagle Bay Resources Announces Private Placement to Raise Gross Proceeds of up to $750,000
E a g l e B a y R e s o u r c e s ( C S E : E B R )
1450 - W e s t P e n d e r S t r e e t
V a n c o u v e r , B . C . V 6 C 1 H 2
w w w . e a g l e b a y r e s o u r c e s . c o m
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Eagle Bay Resources Announces Private Placement
to Raise Gross Proceeds of up to $750,000
News Release - Vancouver, BC, – October 24, 2023: Eagle Bay Resources Corp. (CSE: EBR) ("Eagle
Bay" or the " Company") is pleased to announce that it intends to undertake a non -brokered private
placement consisting of the issuance of up to 10,000,000 units (each, a “Unit”) at a price of $0.075 per Unit
to raise aggregate gross proceeds of up to $750,000 (the "Offering"). Each Unit will consist of one common
share of the Company (each, a “ Share”) and one common share purchase warrant (each, a “ Warrant”),
with each Warrant entitling the holder to purchase one Share at a price of $ 0.10 per Share for a period of
two (2) years from closing of the Offering (the “Closing”).
The Company anticipates that a majority of the net proceeds of the Offering will be used for property
exploration and any remaining funds will be allocated to general working capital.
All securities issued pursuant to the Offering will be subject to a hold period of four (4) months and a day
from the Closing in accordance with securities laws. Any participation by insiders in the Offering will
constitute a related party transaction under Multilateral Instrument 61 -101 - Protection of Minority Security
Holders in Special Transactions (“MI 61-101”) but is expected to be exempt from the formal valuation and
minority shareholder approval requirements of MI 61 -101. The Closing remains subject to several
conditions including receipt of subscriptions and regulatory approval, if required.
The securities offered have not been, and will not be, registered under the United States Securities Act of
1933, as amended, or any state securities laws, and may not be offered, sold or delivered, directly or
indirectly, in the Unites States, its possess ions and other areas subject to its jurisdiction or to, or for the
account or for the benefit of a U.S. person, unless an exemption from registration is available. This news
release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer
to buy any securities of the Company in any jurisdiction.
About Eagle Bay Resources Corp.
Eagle Bay Resources Corp. is a Canadian exploration company specializing in the acquisition and
development of high potential rare earth elements (REE’s) and niobium properties. Eagle Bay Resources
is publicly listed on the Canadian Stock Exchange (“CSE”) under trading symbol “EBR”.
On Behalf of the Board of Directors
EAGLE BAY RESOURCES CORP.
Sean Charland
Chief Executive Officer
Tel: 604.681.1568
Email: [email protected]
E a g l e B a y R e s o u r c e s ( C S E : E B R )
1450 - W e s t P e n d e r S t r e e t
V a n c o u v e r , B . C . V 6 C 1 H 2
w w w . e a g l e b a y r e s o u r c e s . c o m
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward -looking statements” under applicable Canadian securities
legislation. Forward-looking statements consist of statements that are not purely historical, including any
statements regarding beliefs, plans, expectatio ns or intentions regarding the future. Forward -looking
statements in this news release include statements with respect to the expectations of management
regarding the use of proceeds of the Offering, closing conditions for the Offering, the expiry of hold periods
for securities distributed pursuant to the Offering and that exemptions from the requirements of MI 61 -101
will be available to the Company. Forward-looking statements are subject to various known and unknown
risks and uncertainties that may cause actual results, performance or developments to differ materially from
those contained in the statements, including risks related to factors beyond t he control of the Company,
including, but not limited to: changes in general economic conditions or conditio ns in the financial and
capital markets; uncertainties related to the availability and costs of financing needed in the future; business
and economic conditions in the mineral exploration industry generally; the supply and demand for labour
and other project inputs; changes in commodity prices; changes in interest and currency exchange rates;
risks related to inaccurate geological and engineering assumptions; risks relating to unanticipated
operational difficulties (including failure of equipment or process es to operate in accordance with the
specifications or expectations, unavailability of materials and equipment, government action or delays in
the receipt of government approvals, industrial disturbances or other job action and unanticipated events
related to health, safety and environmental matters); risks related to adverse weather conditions and
geopolitical risk and social unrest. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ m aterially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward -looking statements. The
Company disclaims any intention or obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except as required by law.