American Eagle Gold Corp. Sets C$46,265 Share Sale to Maintain South32 Stake

American Eagle Gold Corp. plans to issue 50,000 shares to a South32 subsidiary for C$46,265, a sale that would maintain South32’s 19.9% ownership stake if completed.

The shares are priced at C$0.9253 each under a right set out in an agreement dated Nov. 26, 2024. South32 currently holds 40,991,069 shares through a wholly owned subsidiary. The new shares would bring that holding to 41,041,069, or about 19.9% on a non-diluted basis.

No warrants will be issued in connection with the offering, and no finder’s fees will be paid. Closing is expected on or before Dec. 4, subject to regulatory approvals and acceptance by the TSX Venture Exchange.

American Eagle plans to use the proceeds for general corporate and working capital purposes as it advances its NAK copper-gold project in central British Columbia.