Goldeye Explorations Limited
TSX VENTURE : GGY

Goldeye Explorations Limited

November 02, 2005 11:57 ET

Goldeye Raises $ 200,000 in a Private Placement

TORONTO, ONTARIO--(CCNMatthews - Nov. 2, 2005) - Goldeye (TSX VENTURE:GGY) is pleased to announce that it has completed a non-brokered arm's length private placement on October 31, 2005 for gross proceeds of $ 200,000, subject to acceptance by the TSX Venture Exchange. Two million (2,000,000) units are to be issued at a price of $ 0.10 per unit. Each unit consists of one common share and one non-transferable common share purchase warrant. Each common share purchase warrant entitles the holder to purchase an additional common share for two years at $ 0.15 per share during the first year and $ 0.20 per share during the second year. A finders fee of 10% is payable in units which are the same as the units issued pursuant to the private placement. The securities are subject to a four-month hold period expiring on February 28, 2006.

The proceeds are to be used to finance continuing exploration on Goldeye's properties and for general administrative expenses and working capital. Currently a 1200m drill program is being conducted on the Company's Big Dome, Hydro Creek and Clinton claim blocks at Tyrrell Twp., NE Ontario. Goldeye is a Canadian exploration company with projects in Region V of central Chile, Northwestern Ontario (Sandy Lake, Gold Rock) and Northeastern Ontario (Fawcett and Tyrrell Twp.).

Goldeye's web-site address is http://www.pathcom.com/%7Egoldeye

Note: We have replaced the tilde symbol with '%7E' in the above URL.

Shares issued: 26,775,681

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) 731-9367
    (905) 731-9312 (FAX)