Eastfield Resources Closes Private Placement
Vancouver, November 9, 2022 - Eastfield Resources Ltd. (TSXV:ETF) ("Eastfield" or the "Company ") announces the closing of the private placement announced on September 19, 2022, as revised by news release dated October 7, 2022, consisting of the sale of the following: (a) 3,666,666 units at a price of $0.06 per unit for aggregate subscription proceeds of $220,000, each unit consisting of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share at a price of $0.10 until November 3, 2024; and
(b) 750,000 flow-through shares at a price of $0.08 per share, for aggregate subscription proceeds of $60,000.
Company director Glen Garratt subscribed for 125,000 flow-through shares for aggregate subscription proceeds of $10,000.
The Company paid a cash finder's fee of $2,700 to Leede Jones Gable Inc., of Vancouver, B.C. in connection with this private placement.
All shares issued pursuant to the private placement, including any shares that may be issued pursuant to the exercise of the warrants forming part of the units, are subject to a hold period in Canada until March 4, 2023.
The proceeds from the private placement will be used by the Company to finance an exploration program at its 100% owned CR project and for general working capital purposes.
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.