American Eagle Announces Closing of C$29 Million Strategic Investment by South32
American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) has closed a C$29.16 million strategic investment from South32 through a non-brokered private placement. South32 purchased 33,321,577 common shares at C$0.875 per share, acquiring a 19.9% stake in American Eagle. The proceeds will fund drill program expansions in 2025 and 2026. The agreement includes no warrants or finder's fees, and shares are subject to a four-month statutory hold period. Through an investor rights agreement, South32 gains board nomination rights when holding at least 10% of shares, along with anti-dilution and information rights.
American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) ha concluso un investimento strategico di 29,16 milioni di dollari canadesi da South32 tramite un collocamento privato non intermediato. South32 ha acquistato 33.321.577 azioni ordinarie a 0,875 dollari canadesi per azione, acquisendo una partecipazione del 19,9% in American Eagle. I proventi finanzieranno le espansioni del programma di perforazione nel 2025 e 2026. L'accordo non prevede warrant o commissioni per intermediari, e le azioni sono soggette a un periodo di blocco legale di quattro mesi. Attraverso un accordo di diritti degli investitori, South32 acquisisce diritti di nomina nel consiglio quando detiene almeno il 10% delle azioni, insieme ai diritti anti-diluzione e di informazione.
American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) ha cerrado una inversión estratégica de 29,16 millones de dólares canadienses de South32 a través de una colocación privada no intermediada. South32 adquirió 33.321.577 acciones comunes a 0,875 dólares canadienses por acción, obteniendo una participación del 19,9% en American Eagle. Los ingresos financiarán las expansiones del programa de perforación en 2025 y 2026. El acuerdo no incluye garantías ni comisiones para intermediarios, y las acciones están sujetas a un período de retención legal de cuatro meses. A través de un acuerdo de derechos de inversor, South32 obtiene derechos de nominación en la junta cuando posee al menos el 10% de las acciones, junto con derechos anti-dilución y de información.
American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF)는 South32로부터 2,916만 캐나다 달러의 전략적 투자를 비대리인 사모 배치를 통해 완료했습니다. South32는 주당 0.875 캐나다 달러에 33,321,577주를 구매하여 American Eagle의 19.9% 지분을 인수했습니다. 수익금은 2025년과 2026년의 드릴 프로그램 확장을 위해 사용될 예정입니다. 이 계약에는 보증이나 중개인 수수료가 포함되어 있지 않으며, 주식은 4개월의 법적 보유 기간에 처해집니다. 투자자 권리 계약을 통해 South32는 주식을 10% 이상 보유할 경우 이사회 임명 권한을 얻고, 희석 방지 및 정보 권리를 보유하게 됩니다.
American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) a conclu un investissement stratégique de 29,16 millions de dollars canadiens de South32 par le biais d'un placement privé non intermédié. South32 a acheté 33.321.577 actions ordinaires à 0,875 dollar canadien par action, acquérant ainsi une participation de 19,9% dans American Eagle. Les fonds serviront à financer l'expansion des programmes de forage en 2025 et 2026. L'accord ne comporte ni bons de souscription ni frais de courtage, et les actions sont soumises à une période de blocage légale de quatre mois. Grâce à un accord de droits des investisseurs, South32 obtient des droits de nomination au conseil d'administration lorsqu'il détient au moins 10% des actions, ainsi que des droits anti-dilution et des droits à l'information.
American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) hat eine strategische Investition von 29,16 Millionen kanadischen Dollar von South32 durch eine nicht vermittelte Privatplatzierung abgeschlossen. South32 erwarb 33.321.577 Stammaktien zu einem Preis von 0,875 kanadischen Dollar pro Aktie und erwirbt damit eine 19,9%-Beteiligung an American Eagle. Die Einnahmen werden die Erweiterung des Bohrprogramms in 2025 und 2026 finanzieren. Die Vereinbarung enthält weder Warrants noch Vermittlungsgebühren, und die Aktien unterliegen einer viermonatigen gesetzlichen Haltefrist. Durch eine Investorenrechtevereinbarung erhält South32 das Recht, Mitglieder in den Vorstand zu nominieren, wenn es mindestens 10% der Aktien hält, zusätzlich zu Rechten zum Schutz vor Verwässerung und Informationsrechten.
- Secured substantial C$29.16 million investment from major mining company South32
- Strategic partnership with South32 acquiring 19.9% stake shows confidence in company
- Funding secured for drill program expansions in 2025 and 2026
- No warrants issued, preventing future dilution
- 19.9% ownership by South32 represents significant control by a single investor
- Four-month hold period limits share trading flexibility
Toronto, Ontario--(Newsfile Corp. - November 26, 2024) - American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) ("American Eagle" or the "Company") is pleased to announce that it has closed the previously announced non-brokered private placement pursuant to a subscription agreement (the "Agreement") with a wholly owned subsidiary of South32 Ltd. ("South32" - ASX:S32). Pursuant to the Agreement, South32 purchased 33,321,577 common shares in the capital of the Company ("Common Shares") at a price of C
Under the terms of the Agreement, American Eagle will use the proceeds from the Offering to fund drill program expansions in 2025 and 2026. Further details on the 2025 drill program will be shared once assays from the 2024 program are received.
No warrants are included in the Offering, and no finder's fees or commissions were paid. The Common Shares will be subject to a statutory hold period of four months plus a day following the date hereof.
Early Warning Requirements
As required by National Instrument 62‐103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, South32 has filed an Early Warning Report in connection with its acquisition of the Common Shares pursuant to the Offering. The Common Shares were acquired by South32 Group Operations Pty Ltd., a company organized and existing under the laws of Australia and a wholly owned subsidiary of South32, with a registered address of Level 35, 108 St Georges Terrace, Perth WA 6000, Australia.
Prior to the completion of the Offering, South32 did not directly or indirectly own or exercise control over any Common Shares, nor any securities exercisable into Common Shares. Following the completion of the Offering, South32 indirectly owns and exercises control over 33,321,577 Common Shares, representing approximately
The Common Shares were acquired for investment purposes. South32 currently has no other plans or intentions that relate to, or would result in the matters listed in clauses (a) to (k) of item 5 of Form 62-103F1, except that pursuant to an investor rights agreement dated the date hereof between American Eagle and South32 (the "Investor Rights Agreement"), South32 has the right to nominate one individual to the Board of Directors of American Eagle as long as it holds at least
Copies of the Early Warning Report with respect to the foregoing will appear on the Company's profile on the System for Electronic Document Analysis and Retrieval at www.sedarplus.ca. A copy of the report may also be obtained by contacting Anthony Moreau, Chief Executive Officer, via the contact information below for American Eagle.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements.
About American Eagle's NAK Project
The NAK project is located within the traditional territory of the Lake Babine Nation and lies within the Babine copper-gold porphyry district of central British Columbia. It has excellent infrastructure through all-season roads and is close to the towns of Smithers, Houston, and Burns Lake, B.C., which lie along a major rail line and Provincial Highway 16. Historical drilling and geophysical, geological, and geochemical work at NAK, which began in the 1960's, tested only to shallow depths. Still, the work revealed a very large near-surface copper-gold system that measures over 1.5 km x 1.5 km. Drilling completed in 2022, 2023, and 2024 by American Eagle has returned significant intervals of high-grade copper-gold mineralization that reach beyond and much deeper than the historical drilling, indicating that zones of near-surface and deeper mineralization, locally with considerably higher grades, exist within the broader NAK property mineralizing system.
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About American Eagle Gold Corp.
American Eagle is focused on exploring its NAK copper-gold porphyry project in west-central British Columbia, Canada.
American Eagle Gold Corp
Suite 1805, 55 University Avenue
Toronto, Ontario
M5J 2H7, Canada
Anthony Moreau, Chief Executive Officer
416.644.1567
About South32 Ltd.
South32 is a globally diversified mining and metals company. South32's purpose is to make a difference by developing natural resources, improving people's lives now and for generations to come. South32 is trusted by its owners and partners to realise the potential of their resources. South32 produces commodities including bauxite, alumina, aluminium, copper, silver, lead, zinc, nickel and manganese from its operations in Australia, Southern Africa and South America. South32 also has a portfolio of high-quality development projects and options, and exploration prospects, consistent with its strategy to reshape its portfolio toward commodities that are critical for a low-carbon future.
Q.P. Statement
Mark Bradley, B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and 'qualified person' for the purposes of Canada's National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.
Forward-Looking Statements
Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding the intended use of proceeds and intended drill program or its anticipated results at the Company's NAK project, the ability of the Company to make the qualifying expenditures as anticipated by management, and other matters ancillary or incidental to the foregoing. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Therefore, actual results might differ materially from those suggested in forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedarplus.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231383
FAQ
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