Eagle Plains Closes Fully-Subscribed Financing
Eagle Plains Closes Fully-Subscribed Financing
Cranbrook, BC; September 2 5th, 2020 : Eagle Plains Resources Ltd. (TSX -V:”EPL”), (“the
Company”) announces that the Company has closed a non-brokered private placement to arms -length
and non -arms-length investors as announced on September 23rd, 2020 . Eagle Plains has closed
subscriptions for a total of 1,015,000 non-flow-through units at a price of $. 16 CDN per unit for gross
proceeds of $162,400 CDN. Each unit consists of a non-flow-through common share and one-half non-
flow-through common share purchase warrant, each whole warrant exercisable at $ .30 CDN for a 24
month period.
The Company has also closed subscriptions for a total of 2,037,000 flow-through units at a price of $.18
CDN per unit for total proceeds of $ 366,660 CDN. Each flow -through unit consists of a flow -through
common share and one-half non-flow-through common share purchase warrant, each whole warrant
exercisable at $.30 CDN for a 24 month period.
The common share purchase warrants are subject to an accelerated expiry at the option of the Company if
the published closing trade price o f the common shares on the TSX Venture Exchange is greater than or
equal to $.50 for any 20 consecutive trading days, in which event the holder may be given notice that the
warrants will expire 30 days following the date of such notice. The common share purchase warrants may
be exercised by the holder during the 30 day period between the notice and the expiration of the common
share purchase warrants.
A 7% commission or finders fee may be paid to registered dealers or eligible arms-length third parties
involved in the financing.
Proceeds of the concurrent financings have raised a total of $529,060 CDN. Proceeds from the sale of
units will be used to fund exploration of the company's various projects in British Columbia and
Saskatchewan and for general working capital. Funds earmarked for exploration will qualify as Canadian
exploration expenses as defined in the Income Tax Act and will be renounced for the 2020 taxation year.
About Eagle Plains Resources
Based in Cranbrook , B.C., Eagle Plains continues to conduct research, acquire and explore mineral
projects throughout western Canada. The Company is committed to steadily enhancing shareholder value
by advancing our diverse portfolio of projects toward discovery through col laborative partnerships and
development of a highly experienced technical team. Managements’ current focus is to preserve its
treasury while advancing its most promising exploration projects. In addition, Eagle Plains continues to
seek out and secure high -quality, unencumbered projects through research, staking and strategic
acquisitions. Since 2012, Eagle Plains has added to its portfolio a number of new projects exceeding
130,000 ha targeting mainly gold, uranium and base-metals in Saskatchewan, a highly-prospective mining
jurisdiction which was recently recognized by the Fraser Institute as one of the top 3 jurisdictions in the
world in terms of Investment Attractiveness. Throughout the exploration process, our mission is to help
maintain prosperous communities by exploring for and discovering resource opportunities while building
lasting relationships through honest and respectful business practices.
Expenditures from 2011-2019 on Eagle Plains-related projects exceed $20M, most of which was funded
by third-party partners. This exploration work resulted in approximately 30,000 m of diamond -drilling
and extensive ground-based exploration work facilitating the advancement of numerous projects at various
stages of development.
On behalf of the Board of Directors
“Tim J. Termuende”
President and CEO
For further information on EPL, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: [email protected] or visit our website at http://www.eagleplains.com
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.