Goldeye Increases Brokered Private Placement to $4,182,500

Goldeye Explorations Limited (TSXV:GGY) announced on September 16, 2010 that Goldeye and Pope & Company Limited had agreed to increase the size of its brokered private placement previously announced on September 14, 2010, from approximately $1,500,000 to approximately $4,000,000.

The press release is quoted as saying:

As previously announced, the offering consists of a combination of flow-through units and non-flow-through units at a price of $0.10 per unit. Each non-flow-through unit consists of one common share and one common share purchase warrant, exercisable at a price of $0.125 for two years. Each flow-through unit consists of one flow-through common share and one-half of a common share purchase warrant, with a full warrant being exercisable at a price of $0.15 for two years. The securities are subject to a four month hold period. The final proceeds will consist of $2,400,500 of non-flow-through units and $1,782,000 of flow-through units. A commission of 8% of the cash proceeds will be paid to the Agent as well as Agent’s warrant units equal to 10% of the number of units sold.

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