American Eagle Gold Corp. announced a private placement of 14.4 million common shares on a flow-through basis at a price of CAD 0.205 per share for the gross proceeds of CAD 2.96 million on May 8, 2023. The transaction will include participation from Teck Resources Limited for an aggregate purchase price of CAD 1.87 million, or 13 cents per share.

No warrants or finders fees were issued in connection with the offering. The transaction is expected to close on May 30, 2023. subject to negotiation and execution of definitive documentation with the initial purchasers of the shares, as well as certain customary conditions, including, but not limited to, the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange.

The shares will be subject to a statutory hold period of four months plus a day following the closing date.