Business
Eagle Plains Announces Financing
Eagle Plains Announces Financing
About this update from Giyani Metals Corp
[{"type":"text","content":"\nEagle Plains Announces Financing\n\n\n Nov. 25, 2009 (Filing Services Canada) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTCBB_Pink_Sheets), (the \"Company\" or \"Eagle Plains\") announces that  the Company  intends to complete a brokered and non-brokered private placement to arms-length and non arms-length investors and insiders of the Company.Application will be filed with the TSX Venture Exchange (TSX-V) to sell up to 2,500,000 Non-Flow-Through (\"NFT\") units at a price of $.18 CDN per unit, each NFT unit consisting of a NFT common share and one-half NFT common share purchase warrant, each whole warrant exercisable to acquire one NFT common share at $.30 CDN for an 18 month period. The Company will also make application to offer up to 2,500,000 Flow-Through (\"FT\") units at a price of $.22 CDN per unit, each FT unit consisting of a FT common share and one-half NFT common share purchase warrant, each whole warrant exercisable to acquire one NFT common share at $.30 CDN for an 18 month period. A 10% overallotment will be reserved, comprised of an additional 250,000  NFT units and an additional 250,000  FT units.The common share purchase warrants are subject to an accelerated expiry if the published closing trade price of the Company's common shares on the TSX Venture Exchange is greater than or equal to $.50 for any 10 consecutive trading days, in which event the holder will 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 will be paid, either in cash or through the issuance of common shares at a deemed price of $0.18 per share, to registered dealers or arms-length third parties involved in the financing. 10% broker warrants to acquire non-flow-through shares at a price of $0.18 per share for a period of 12 months may be offered to qualified registered dealers. The financing is expected to close in mid-December, 2009.Maximum gross proceeds of the offering, including the 10% overallotment, are expected to be $1,100,000 CDN.  A portion of the proceeds from the sale of the shares will be used to advance exploration at various B...