Eagle Plains Resources Ltd. Announces the Mailing and Filing of Its Management Information Circular to Approve an Arrangement with Eagle Royalties Ltd.
Eagle Plains Resources Ltd. Announces the Mailing and Filing of Its
Management Information Circular to Approve an Arrangement with Eagle
Royalties Ltd.
Cranbrook, B.C., March 24, 202 3: Eagle Plains Resources Ltd . ( TSXV: "EPL") ("Eagle
Plains") is pleased to announce the mailing of its management information circular dated March
17, 2023 (the "Circular") and related documents for the special meeting of Eagle Plains
securityholders to be held at 9:00 a.m. (Mountain Time) on April 2 6, 2023. The meeting is being
held in connection with the previously announced plan of arrangement under section 193 of the
Business Corporations Act (Alberta), whereby Eagle Plains will undergo a capital reorganization
and, through a series of transactions, will transfer a majority of its portfolio of royalty interests to
Eagle Royalties (the "Arrangement").
Eagle Plains wishes to confirm that it has received overwhelmi ng support for the Arrangement
from multiple significant securityholders and along with the directors and officers of Eagle Plains,
it has secured written support of approximately 27. 7 million Eagle Plains common shares (which
represents approximately 25% of the total issued and outstanding Eagle Plains common shares),
8.2 million Eagle Plains options ( which represents approximately 75% of the total issued and
outstanding Eagle Plains options) and 2. 4 million Eagle Plains warrants ( which represents
approximately 44% of the total issued and outstanding Eagle Plains warrants).
Further details with respect to the Arrangement are included in the Circular, which can be found
on Eagle Plains' profile on SEDAR at www.sedar.com.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues
to conduct research, acquire and explore mineral projects throughout western Canada. Eagle
Plains was formed in 1992 and is the ninth-oldest listed issuer on the TSXV (and one of only three
that has not seen a roll -back or restructuring of its shares). Eagle Plains has continued to deliver
shareholder value over the years and through numerous spin -outs has transferred over
$100,000,000 in value directly to its shareholders, wi th Copper Canyon Resources and recently
Taiga Gold being notable examples. Eagle Plains is committed to steadily enhancing shareholder
value by advancing its diverse portfolio of projects toward discovery through collaborative
partnerships and development of a highly experienced technical team.
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In late 2022 Eagle Plains announced the formation of a separate division within the Company :
Eagle Royalties Ltd. ( "ER") which will hold many of Eagle Plains’ diverse portfolio of royalty
assets. The restructuring will enhance the valuation of Eagle Plains’ extensive royalty interests,
enabling ER to market and develop its royalty assets while seeking additional royalty acquisition
opportunities. Eagle Plains’ royalties cover a broad spectrum of commodities on proje cts
controlled by Cameco Corp., Iso Energy Corp., Denison Mines Corp., Skeena Resources Ltd. and
Hecla Mining Co./Banyan Gold Corp., among others. Planning is underway to spin-out ER during
Q2 of 2023 which will enable Eagle Plains to continue to focus on its core business model of
acquiring and advancing grassroots critical- and precious-metal exploration properties.
Expenditures from 2011 -2022 on Eagle Plains -related projects exceed $30M, the majority of
which was funded by third -party partners. This ex ploration work resulted in approximately
45,000m of diamond -drilling and extensive ground -based exploration work facilitating the
advancement of numerous projects at various stages of development. Throughout the exploration
process, Eagle Plains' mission is to help maintain prosperous communities by exploring for and
discovering resource opportunities while building lasting relationships through honest and
respectful business practices.
On behalf of the Board of Directors of Eagle Plains
“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 https://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.