Business
American Eagle Announces Closing of $10.9 Million Investment backed by Teck and South32
HighlightsTeck and South 32 maintain their equity ownership in American Eagle American Eagle 's cash balance increases to $55 million Four cornerstone investors: South32, Teck, Eric Sprott, and Ore Group currently hold approximately 53 percent of American Eagle's outstanding sharesThe 2026 exploration season is to commence in April, with more than 50,000 metres of drilling plannedNeil Prowse appointed Vice President, Exploration of American Eagle Toronto, Ontario--(Newsfile Corp. - April 9,...
About this update from South32 Ltd.
[{"type":"text","content":"Highlights","length":10,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Teck and South 32 maintain their equity ownership in American Eagle","length":67,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"American Eagle 's cash balance increases to $55 million","length":59,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Four cornerstone investors: South32, Teck, Eric Sprott, and Ore Group currently hold approximately 53 percent of American Eagle's outstanding shares","length":152,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"The 2026 exploration season is to commence in April, with more than 50,000 metres of drilling planned","length":101,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Neil Prowse appointed Vice President, Exploration of American Eagle","length":67,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":446,"olType":false},{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - April 9, 2026) - American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) ("American Eagle" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement offering of 9,650,550 common shares issued on a premium flow-through basis (each, a "FT Share") at a price of C$1.1319 per FT Share for gross proceeds of C$10,923,458 (the "Offering").","length":463,"tagName":"p"},{"type":"text","content":"Teck Resources Limited ("Teck") maintained its 12.9% interest in the Company, through the acquisition of 3,797,058 common shares ("Common Shares") underlying the Offering at a back-end price of $0.77 per Common Share, and a wholly-owned subsidiary of South32 Ltd ("South32") maintained its 19.9% interest in the Company, through the acquisition of 5,853,492 Common Shares underlying the Offering at a back-end price of $0.77 per Common Share.","length":472,"tagName":"p"},{"type":"text","content":"Each of Teck and South32 exercised their participation right in connection with the Company's non-brokered private placement offering of 19,200,000 FT Shares at a price of C$1.20 per FT Share for gross proceeds of C$23,040,000, which closed on March 20, 2026 (the "Sprott Offering"). Eric Sprott, through 2176423 Onta...