Eagle Hill Begins Trading on OTCQX-International
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/15/12 -- Eagle Hill Exploration Corp. (TSX VENTURE: EAG)(OTCQX: EHECF) ('Eagle Hill' or the 'Company') announces that it has begun trading on the OTCQX-International (the 'OTCQX') under the symbol 'EHECF.' The OTCQX is the highest tier of the OTC Markets group and the Company is pleased to increase accessibility for US investors. The listing was sponsored and facilitated by Casimir Capital L.P. of New York who will act as the Company's principal American liaison.
Eagle Hill began trading today and investors can find current financial disclosures and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.
'Thanks to Casimir Capital L.P., the Company's trading on the OTCQX is a great step towards increasing our presence in the US, and now makes the purchase of our shares available to all US investors,' said P. Bradley Kitchen, President & CEO of Eagle Hill. 'As we continue to expand upon the asset at the Windfall Lake Property, it is increasingly important to reach new market segments. We believe the political stability of Quebec, and the emergence of this part of the province as a potential new gold camp will be very attractive to US investors.'
In addition to the OTCQX listing, the Company also announces that it has entered into a purchase agreement to purchase a group of mineral claims located near the Bartouille Township of Quebec (the 'Purchase Agreement'). In exchange for a one hundred percent ownership of the group of claims, subject to a two percent net smelter royalty, the Company will issue 300,000 common shares and a cash payment of $60,000 to the vendors.
In other business, Eagle Hill also announces that it wishes to issue incentive stock options to various directors, officers and consultants for the Company, in accordance with the Company's Stock Option Incentive Plan. The Company is proposing to issue 1,645,000 stock options at exercise price of $0.165 per common share, exercisable for a period of five (5) years (the 'Options').
The Purchase Agreement and the Options are still subject to all necessary regulatory approvals.
About Eagle Hill Exploration Corporation
Eagle Hill Exploration Corporation is a Canadian mineral exploration company focused on the exploration and development of gold and precious metal prospects. The Company is set to become an advanced stage gold exploration company with its acquisition of the Windfall Lake high grade gold project, located in Urban Township, Quebec, between Val-d'Or and Chibougamau. Eagle Hill seeks projects that contain or have potential to have large resource potential. The Company's website at www.eaglehillexploration.com and public filings at www.sedar.com provide additional information on its properties and other information with respect to its management and operations.
ON BEHALF OF THE BOARD,
P. Bradley Kitchen, President
FORWARD LOOKING STATEMENTS
This release contains 'forward-looking statements' within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'planning', 'planned', 'expects' or 'looking forward', 'does not expect', 'continues', 'scheduled', 'estimates', 'forecasts', 'intends', 'potential', 'anticipates', 'does not anticipate' or 'belief' or describes a 'goal' or variation of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither 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 release.
Contacts:
Eagle Hill Exploration Corporation
David Matousek
Corporate Communications
604.697.5791
info@eaglehillexploration.com
www.eaglehillexploration.com
MI3 Communications Financieres Inc. (Montreal)
Nathalie Dion
514.904.1333
nathalie@mi3.ca
www.mi3.ca
