|By Marketwired .||
|April 28, 2014 08:31 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 04/28/14 -- Goldeye Explorations Limited (TSX VENTURE: GGY) wishes to announce that it will be conducting a partially brokered private placement for gross proceeds of up to $2,500,000 through the sale of up to 25,000,000 flow-through shares at $0.10 per share or 25,000,000 non-flow-through units at $0.10 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one non-flow-through common share at a price of $0.18 for a period of 24 months from the date of issue, subject to possible acceleration if the trading price exceeds $0.30 for 14 consecutive trading days.
Goldeye will pay 7% cash commissions where permitted. All of the securities will be subject to a four month hold period.
The proceeds of the flow-through financing will be used to incur mineral exploration on Goldeye's Weebigee Project qualifying as Canadian Exploration Expense (CEE) under the Income Tax Act (Canada), enabling the subscriber to obtain applicable tax credits and deductions. The proceeds of the non-flow-through financing will be used to pay commissions and costs of the private placements and to pay for the costs and expenses of this private placement, general administrative expenses, overhead, and working capital.
On behalf of the Board of Directors,
Blaine Webster, P.Geo., President and CEO
Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions having long traditions of mining. Weebigee is Goldeye's flagship project in Canada. Goldeye also holds a 24.5% interest in the Todd Property in British Columbia's Golden Triangle, a 100% interest in the Gold Rock and West Shining Tree properties in Ontario, and additional claims in Tyrrell Twp. In Chile, Goldeye owns 100% of the Sonia-Puma property located 180 km north of Santiago. There are currently 39,503,597 common shares of Goldeye issued and outstanding.
About the Weebigee Project
Goldeye's 100% owned Weebigee Project is located 227 kilometres north of Red Lake in Northwestern Ontario and is comprised of 363 claims totaling approximately 6,000 hectares. The NW Arm claim block covers approximately 20% of the total project area and hosts the highest density of gold showings in the Sandy Lake Greenstone Belt.
The project is adjacent to Sandy Lake First Nation (population approx. 3,000) which has excellent infrastructure including an airport with daily direct flights to Winnipeg, Red Lake and Sioux Lookout and winter road connection to Red Lake. All weather access roads are located within one kilometre of the Knoll, Bernadette and RvG4 areas. Goldeye recently signed a comprehensive Exploration Agreement with Sandy Lake First Nation and is pleased to have a strong, mutually beneficial relationship with the people of Sandy Lake First Nation.
Neither 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.
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