South32 to invest $29.2M in American Eagle Gold
- American Eagle Gold (OTCQB:AMEGF) said South32 will invest ~$29.16 million in the company on a non-brokered private placement basis.
- Under the agreement, the company will 33.3M shares at C$0.875 apiece for gross proceeds of $29.2M.
- American Eagle will use the proceeds to build on the successes of its 2024 drill program, according to the agreement.
- Right after closing, South32 will hold 33.3M shares, representing ~19.9% of the firm.
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