Eureka Announces Amendment to Financing Terms
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES.
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TSXV – EUK
WKN: 875742
ISIN : CA2986551018
EUREKA ANNOUNCES AMENDMENT TO FINANCING TERMS
Vancouver, British Columbia, April 7, 2017 - Eureka Resources Inc. (“Eureka” or the
“Company”) announces that it has amended the terms of its non-brokered private
placement financing announced on March 1, 2017 (the “Offering”).
The Offering will consist of: (i) up to 5,000,000 units (each, a “Unit”) at a price of $0.09
per Unit for gross proceeds of up to $450,000, and (ii) up to 5,000,000 flow-through
units (each, a “Flow-Through Unit”) at a price of $0.10 per Flow-Through Unit for gross
proceeds of up to $500,000.
Each Unit will consist of one common share in the capital of the Company (each, a
“Share”) and one half of one share purchase warrant (with each whole warrant being, a
“Warrant”), with each Warrant entitling the hol der to acquire one Share at a price of
$0.15 per Share for a period of two years from the closing of the Offering.
Each Flow-Through Unit will c onsist of one Share, issued on a “flow-through” basis
pursuant to the Income Tax Act (Canada) and one half of one Warrant, issued on a non-
flow-through basis, with each whole Warrant entitling the holder to acquire one Share at
a price of $0.15 per Share for a period of two years from the closing of the Offering.
All of the Warrants will be su bject to an acceleration cl ause which will cause the
Warrants, if unexercised, to expire on the da te which is 30 days after the date that the
volume weighted average trading price of the Shares on the TSX Venture Exchange
(the “TSXV”) exceeds $0.25 per Share over a period of 10 consecutive trading days and
the Company gives notice by issuing a press release.
Finders' fees may be payable in connection with the Offeri ng in accordance with the
policies of the TSXV. All securities iss ued in connection with the Offering will be subject
to a statutory hold period expiring four mont hs and one day after closing of the Offering.
Completion of the Offering is subject to a number of conditions, including, without
limitation, receipt of all r egulatory approvals, including approval of the TSXV. The
proceeds of the Offering will be used for exploration of the Company’s mineral
properties and for working capital purposes.
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ABOUT EUREKA
Eureka is an exploration focused compan y based in Vancouver, British Columbia,
whose strategy is to acquire projects in prospective areas that have the potential to
deliver important new discoveries to create value for its shareholders.
British Columbia, Canada
Eureka’s 100% owned FG Gold property is an advanced-stage gold project located in
the Cariboo Mining Division and currently under option to Canarc Resources Corp
(TSXV: CCM). Historical exploration has established a Measured and Indicated
(376,000 ounces) gold resource at an average grade of 0.776 g/t gold, using a cut-off
grade of 0.5 g/t, and an Inferred gold resource (634,900 ounces) at an average grade of
0.718 g/t gold, using a cut-off grade of 0.5 g/t. Details of the gold resource can be found
in “NI 43-101 Technical Report, Frasergold Exploration Project, Cariboo Mining Division,
dated July 27, 2015” availabl e under the Company’s prof ile on SEDAR or on the
Company’s website.
Eureka has the option to earn a 100% interest in the Gold Creek property located in the
Cariboo Mining Division. Gold Creek is a gr assroots gold project neighbouring, and with
similar geology to the Spanis h Mountain deposit ow ned by Spanish Mountain Gold Ltd.
(TSXV: SPA).
Yukon Territory, Canada
Eureka’s 100% owned Luxor property consis ts of three non-contiguous claim blocks
totalling 360 mining claims. Luxor is located in the Dawson Range Gold Belt, a district
of major porphyry, breccia and vein occurrences.
Eureka’s 100% owned TAK property is also located in the Dawson Range Gold Belt and
consists of 82 mining claims.
Neighbouring properties to Luxor and TAK include the Co ffee deposit recently acquired
by Goldcorp.
Nevada, USA
Eureka owns a 50 percent interest in the Gemini lithium br ine project located
approximately 40 km (26 miles) south of North America’s only producing lithium mine at
Silver Peak, Nevada.
Further information on Eureka can be found on the Company ’s website at
www.eurekaresourcesinc.com and at www.s edar.com, or by contacting Michael
Sweatman, President and CEO, or Bob Ferguson by email at
[email protected] or by telephone at (604) 449-2273.
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this
release.
Cautionary Statement Regarding Adjacent Properties and Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not
historical facts. Forward-looking statements involve risks, unc ertainties, and other factors that could cause actual results,
performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking
statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the
terms of the Offering and the business and operations of th e Company. Forward-looking statements are necessarily based
on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks,
uncertainties and other factors which may cause actual results and future events to differ materially from those expressed
or implied by such forward-looking statements. Such factors include, but are not limited to: failure to obtain TSXV approval
for the Offering, general business, economic and social uncertainties; litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments; delay or failure to receive board or regulatory approvals; those
additional risks set out in the Company’s public documents filed on SEDAR at www.sedar.com; and other matters discussed
in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-
looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the
date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all.
Except where required by law, the Company disclaims any intent ion or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events, or otherwise.