Eastfield Resources Ltd. Announces Revision to Private Placement
Vancouver, October 7, 2022 - Eastfield Resources Ltd. (TSXV:ETF) ("Eastfield" or the "Company ") announces the following revision to its non-brokered private placement offering (the "Offering"), as originally announced on September 19, 2022. The Offering will now consist of the sale of the following securities, subject to regulatory acceptance: (a) up to 4,000,000 units at a price of $0.06 per unit, to raise gross proceeds of up to $240,000, with each unit to consist of one common share and one share purchase warrant, with each warrant to entitle the holder to purchase one additional common share at a price of $0.10 for a period of 24 months from closing; and
(b) up to 2,000,000 flow-through shares at a price of $0.08 per share, to raise gross proceeds of up to $160,000.
The proceeds from the Offering will be used by the Company to finance an exploration program at its 100% owned CR project and for general working capital.
The securities issued pursuant to the Offering, including any Shares that may be issued pursuant to the exercise of the Warrants forming part of the units, will be subject to a hold period expiring four months and one day from closing, in accordance with applicable Canadian securities laws.
J.W. Morton, P. Geo.
President and CEO
Contact: (604) 681-7913 or Toll Free: 888-656-6611
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For more information, please visit the company's website at www.eastfieldresources.com.