Eureka Resources Amends Private Placement Terms

Eureka Resources (TSXV:EUK) has amended the terms of its non-brokered private placement financing announced on March 1, 2017.
The offering will consist of up to five million units at a price of nine cents per unit for gross proceeds of up to $450,000, and up to five million flow-through units at a price of 10 cents per flow-through unit for gross proceeds of up to $500,000.
Each unit will consist of one common share in the capital of the company and one-half of one share purchase warrant, with each warrant entitling the holder to acquire one share at a price of 15 cents per share for a period of two years from the closing of the offering.
Each flow-through unit will consist of one share, issued on a flow-through basis pursuant to the Income Tax Act (Canada) and one-half of one warrant, issued on a non-flow-through basis, with each whole warrant entitling the holder to acquire one share at a price of 15 cents per share for a period of two years from the closing of the offering.
All of the warrants will be subject to an acceleration clause which will cause the warrants, if unexercised, to expire on the date which is 30 days after the date that the volume-weighted average trading price of the shares on the TSX Venture Exchange exceeds 25 cents per share over a period of 10 consecutive trading days and the company gives notice by issuing a press release.
Finders’ fees may be payable in connection with the offering in accordance with the policies of the TSX-V. All securities issued in connection with the offering will be subject to a statutory hold period expiring four months and one day after closing of the offering. Completion of the offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the TSX-V. The proceeds of the offering will be used for exploration of the company’s mineral properties and for working capital purposes.
About Eureka Resources Inc.
Eureka is an exploration focused company based in Vancouver, B.C., whose strategy is to acquire projects in prospective areas that have the potential to deliver important new discoveries to create value for its shareholders.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
Cautionary Statement Regarding Adjacent Properties and Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the terms of the Offering and the business and operations of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: failure to obtain TSXV approval for the Offering, general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board or regulatory approvals; those additional risks set out in the Company’s public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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