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Eureka Initiates Review of Strategic Alternatives and Will Apply for Waiver of Private Placement Pricing Policy
Vancouver, British Columbia--(Newsfile Corp. - November 27, 2017) - Eureka Resources Inc. (TSX...
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[{"type":"text","content":"Eureka Initiates Review of Strategic Alternatives and Will Apply for Waiver of Private Placement Pricing PolicyVancouver, British Columbia--(Newsfile Corp. - November 27, 2017) - Eureka Resources Inc. (TSXV: EUK) (\"Eureka\" or the \"Company\") announced today that it is commencing a review of strategic alternatives focused on maximizing shareholder value. Potential strategic alternatives that may be explored or evaluated by Eureka include business combinations, joint ventures or other strategic transactions. The Company has not made a decision to pursue any specific transaction or other strategic alternative, and there can be no assurance that this process will result in any such transaction. Eureka also confirms there is no material fact or material change related to the Company which has not been generally disclosed. To further this corporate objective, Eureka intends to complete a non-brokered private placement of up to 7.0 million common shares of the Company at a price of $0.025 per common share for gross proceeds of up to $175,000 (the \"Offering\").  Eureka will make an application to the TSX Venture Exchange (\"TSXV\") for a waiver to the private placement pricing as the proposed subscription price is below the TSXV's $0.05 minimum pricing requirement.A portion of the Offering may be made pursuant to the existing shareholder exemption (the \"Existing Shareholder Exemption\") contained in Multilateral CSA Notice 45-313 and the various corresponding blanket orders and rules of participating jurisdictions.  In addition to conducting the Offering pursuant to the Existing Shareholder Exemption, the Offering will also be conducted pursuant to other available exemptions, including sales to accredited investors and close personal friends and business associates of directors and officers of the Company. The Company has set November 24, 2017 as the record date for the purpose of determining existing shareholders entitled to purchase common shares pursuant to the Existing Shareholder Exemption.  The aggregate acquisition cost to a subscriber under the Existing Shareholder Exemption cannot exceed $15,000 unless that subscriber has obtained advice obtained from a registered investment dealer regarding the suitability of the investment.  Subscribers purchasing common shares in the Offering under the Existing Share...