Goldeye Explorations Limited
TSX VENTURE : GGY

Goldeye Explorations Limited

January 04, 2007 18:05 ET

Goldeye Completes Private Placements

TORONTO, ONTARIO--(CCNMatthews - Jan. 4, 2007) - Goldeye Explorations Limited (Goldeye) (TSX VENTURE:GGY) wishes to advise on the status of various private placements completed in December 2006.

Goldeye previously announced on December 11, 2006 that it had completed a non-brokered private placement for gross proceeds of $200,200. 1,820,000 units of Goldeye were issued at a price of $0.11 per unit. Each unit consists of one flow-through common share and one-half of a non-flow-through common share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share at $0.20 per share for a two-year period. The securities are subject to a four-month hold period expiring April 2, 2007.

Goldeye has completed with the MineralFields Group a previously announced (December 11, 2006) private placement for gross proceeds of $1,000,000. 7,692,306 units of Goldeye were issued at a price of $0.13 per unit. Each unit consists of one flow-through common share and one-half of a non-flow-through common share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share for $0.20 per share for a two-year period. The securities are subject to a four-month hold period expiring April 16, 2007. A finder's fee was paid in the amount of $7,000 cash, 330,769 common shares of Goldeye and 769,230 broker's warrants. Each broker's warrant entitles the holder to purchase an additional common share at $0.20 per share for a two-year period.

Goldeye has completed a non-brokered arm's length private placement for proceeds of $24,500. 188,461 common shares of Goldeye were issued at a price of $0.13 per share. The common shares are subject to a four-month hold period expiring April 16, 2007.

Goldeye has completed a brokered private placement on December 29, 2006 for proceeds of $115,000. 1,045,454 flow-through units of Goldeye were issued at a price of $0.11 per unit. Each unit consists of one flow-through common share and one-half of a common share purchase warrant. Each whole common share purchase warrant entitles the holder to purchase an additional non-flow-through common share at $0.20 per share for a two-year period. The securities are subject to a four-month hold period expiring April 30, 2007. Goldeye paid cash commission of $9,200 (8%) and issued 83,636 broker's warrants (8%) in connection with the transaction. Each broker's warrant entitles the holder to purchase an additional common share at $0.20 per share for a two-year period.

Goldeye has completed a brokered private placement on December 29, 2006 for proceeds of $85,000. 850,000 common shares of Goldeye were issued at a price of $0.10 per unit. Each unit consists of one common share and one-half of a share purchase warrant. Each whole share purchase warrant will entitle the holder thereof to purchase an additional common share at $0.20 per share for a two year period. The securities are subject to a four-month hold period expiring April 30, 2007. Goldeye paid cash commission of $6,800 (8%) and issued 68,000 broker's warrants (8%) in connection with the transaction. Each broker's warrant entitles the holder to purchase an additional non-flow-through common share at $0.20 per share for a two-year period.

Goldeye has completed a brokered private placement on December 29, 2006 for proceeds of $200,200. 1,820,000 flow-through units of Goldeye were issued at a price of $0.11 per unit. Each unit consists of one flow-through common share and one-half of a non-flow-through share purchase warrant. Each whole warrant entitles the holder to purchase an additional non-flow-through common share at $0.20 per share for a two-year period. The securities are subject to a four-month hold period expiring April 30, 2007. Goldeye paid a cash commission of $16,016 (8%) and issued 182,000 broker's warrants (8%) in connection with the transaction. Each broker's warrant entitles the holder to purchase an additional common share for $0.20 per share for a two-year period.

Goldeye has completed a non-brokered private placement for gross proceeds of $95,000 with four accredited investors. 950,000 units of Goldeye were issued at a price of $0.10 per unit. Each unit consists of one common share and one half of a common share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share at $0.20 per share for a two-year period. The securities are subject to a four-month hold period expiring April 30, 2007.

The proceeds of the common shares will be used for administrative expenses and working capital. The proceeds of the flow-through common shares will be used for mineral exploration on Goldeye's Canadian mineral properties qualifying as Canadian Exploration Expense (CEE) under the Income Tax Act (Canada) enabling the subscriber to obtain applicable tax credits and deductions.

Goldeye is a Canadian mineral exploration company acquiring, exploring and advancing properties in Canada and Chile. A geological team has recently been mobilized to commence work on its Sonia-Puma properties in Region V, central Chile. Previous chip sampling from this target yielded values to 7.75 g Au/T and 218 g Ag/T over a width of 5 metres. A three-month mapping/sampling program will be undertaken to evaluate known zones and to explore for new vein systems. The project is a 50:50 joint venture with Polar Mining Corporation.

Shares issued: 53,337,664

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Goldeye Explorations Limited
    B. Webster
    C.E.O. and President
    (905) 886-2538
    (905) 886-8210 (FAX)
    Website: www.goldeye.ca