Goldeye Explorations Limited
TSX VENTURE : GGY

Goldeye Explorations Limited

December 14, 2011 16:59 ET

Goldeye Explorations Limited Announces Flow-Through Financing and Non-Flow-Through Financing

TORONTO, ONTARIO--(Marketwire - Dec. 14, 2011) - Goldeye Explorations Limited (TSX VENTURE:GGY) announces that it proposes to complete a partially brokered private placement for gross proceeds of up to $2,000,000 through the sale of up to 20,000,000 flow-through units at $0.05 per flow-through unit and up to 20,000,000 non-flow-through units at $0.05 per non-flow-through unit. The TSX Venture Exchange has conditionally accepted the private placements. Each flow-through unit consists of one common share and one-half of a common share purchase warrant. Each non-flow-through unit consists of one common share and one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share for two years at an exercise price of $0.10 per share.

Goldeye will negotiate and pay cash commissions and broker options on brokered private placements. Each broker option entitles the holder to acquire one broker unit at an exercise price of $0.05 per unit. Each flow-through broker unit consists of one common share and one-half of a common share purchase warrant. Each non-flow-through broker unit consists of one common share and one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share for two years at an exercise price of $0.10 per share.

All of the securities are subject to a four month hold period.

The proceeds of the flow-through financing will be used for mineral exploration on Goldeye's Ontario mineral properties 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 for general and administrative purposes and to finance mineral exploration on Goldeye's mining properties.

ABOUT GOLDEYE

Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions with long traditions of mining (Canada and Chile). Goldeye's approach is to advance precious metal deposits to the development stage, employing, in part, technically advanced geophysical techniques and occasionally joint venture funding. The qualified person (within the meaning of National Instrument 43-101) who read and approved this press release for Goldeye is Jorma Hannila, P. Geo and C.E.O. of Goldeye.

Goldeye's web-site address is www.goldeye.ca.

Shares Issued Prior to Financing: 177,996,458

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
    (905) 886-2538

    Goldeye Explorations Limited
    Blaine Webster, P. Geo.
    President
    (416) 315-9708
    www.goldeye.ca