Goldeye Explorations Limited

Goldeye Explorations Limited

May 02, 2007 18:45 ET

Goldeye Increases Private Placement

TORONTO, ONTARIO--(CCNMatthews - May 2, 2007) - Further to its proposed private placement announced March 27, 2007, Goldeye (TSX VENTURE:GGY) wishes to announce that the offering has been over-subscribed and it intends to complete a partially brokered arm's length private placement for gross proceeds of $1,250,150.00 pursuant to the "Accredited Investor" exemption in NI 45-106 subject to the acceptance by the TSX Venture Exchange. 11,365,000 units of Goldeye will be issued at a price of $0.11 per unit. Each unit will consist of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder to purchase an additional common share for $0.15 per share for a two year period. The securities will be subject to a four month hold period. A total of $73,172 cash, 801,500 share purchase warrants and 80,000 common shares will be issued as finders' fees or commissions in connection with the offering.

All proceeds will be used for exploration on Goldeye's non-Canadian mineral projects and for working capital and administrative expenses.

Goldeye is a Canadian mineral exploration company acquiring, exploring and advancing properties in Canada and Chile.

Shares issued prior to this private placement: 54,012,664

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)