VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 30, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
Eagle Hill Exploration Corporation (TSX VENTURE:EAG)(OTCQX:EHECF) ("Eagle Hill" or the "Company") is pleased to announce that it has completed a non-brokered private placement of $2,000,000 (the "Offering"). The Offering consisted of 18,181,818 common shares of the Company (the "Shares") issued on a "flow-through" basis at a price of $0.11 per Share. The structured transaction will involve the issuance of the Shares, their donation to charity and subsequent resale by charities to institutional and accredited investors.
The Shares are subject to a four-month hold expiring on May 1, 2014. Proceeds from the Offering will be used for eligible Canadian exploration expenses incurred during 2014 at the Company's Windfall Lake Gold Deposit. The Company will renounce the qualifying expenditures to subscribers of the Shares for the fiscal year ended December 31, 2013.
The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these Shares in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.
On Behalf of the Board of Directors
John Proust
Chairman and Interim CEO