VANCOUVER, BC / ACCESSWIRE / March 14, 2023 / Eagle Bay Resources Corp. ('Eagle Bay' or the 'Company'), is pleased to announce that its common shares have received approval for listing on the Canadian Securities Exchange (the 'CSE') and will commence trading Wednesday March 15, under the trading symbol 'EBR' at market open.
The ISIN and CUSIP numbers for the common Shares are CA2694211038 and 269421103, respectively. Eagle Bay currently has 52,854,526 common Shares issued and outstanding. Of the 29,550,000 Common Shares owned by management, directors, and Zimtu Capital Corp., 2,955,000 (10%) will be released from escrow in connection with the commencement of trading, while 26,595,000 will remain in escrow, with batches of 4,432,500 released every six months over a period of three years.
David Hodge, President and CEO of Eagle Bay, commented, 'We are thrilled to commence our public listing with such a high-quality portfolio of rare earth and niobium exploration properties, now at a time when the North America is seeing increased exploration and development activities by majors and juniors alike. This is clearly an emerging rare earth minerals district with significant discovery having been advanced by Defence Metals Corp, with which we share a contiguous border, moving towards realising its full potential and we intend to be part of this.'
Jody Dahrouge, Director and President of Dahrouge Geology comments 'In the mid 2000's we recognized the potential for both REE's and niobium mineralization within carbonatites proximal to the Wicheeda REE showings. We acquired a number of claims over the years south-easterly from Wicheeda to the Cap Property, which covered a large circular magnetic anomaly. We have discovered several unique carbonatites since then and are extremely encouraged by the large number of mineral showings. Our confidence grows daily that continued exploration at the Cap Property will produce a new series of rare metal showings!'
Michael Schuss, Director stated, 'We are very grateful for the ongoing support of all our shareholders and the efforts of our team. Creating long-term value for our shareholders was very important to us and we are very eager to see what the future holds for the Company.'
Eagle Bay Property Access Map
Additional information about the Company can be found in the Company's final Non-offering Prospectus dated February 28, 2023, as filed under the Company's profile on SEDAR at www.sedar.com. Company's website is www.eaglebayresources.com.
Management cautions that past results or discoveries on adjacent properties (i.e. Wicheeda) may not necessarily be indicative to the presence of mineralization on the Company's properties (i.e. Cap).
About Eagle Bay Resources Corp.
Eagle Bay Resources Corp. is a Canadian exploration company specializing in the acquisition and development of high potential rare earth elements (REE's) and niobium properties, including the Cap & Carbo Carbonatite Complex's. The properties are located 85 km northeast of Prince George, British Columbia and are comprised of 34 mainly contiguous mineral tenures covering 11,825.83 Ha. Eagle Bay Resources is publicly listed on the Canadian Stock Exchange (CSE) under trading symbol 'EBR'.
On Behalf of the Board of Directors
EAGLE BAY RESOURCES CORP.
Chief Executive Officer
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain 'forward-looking statements' under applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include statements with respect to receipt of final approval from the Canadian Securities Exchange and the expected timing of commencement of trading. Forward-looking statements are subject to various known and unknown risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company, including, but not limited to: changes in general economic conditions or conditions in the financial and capital markets; uncertainties related to the availability and costs of financing needed in the future; business and economic conditions in the mineral exploration industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks related to inaccurate geological and engineering assumptions; risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with the specifications or expectations, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action and unanticipated events related to health, safety and environmental matters); risks related to adverse weather conditions and geopolitical risk and social unrest. There can be no assurance that such 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. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
The CSE has not in any way passed upon the merits of the listing of the common shares of the Company and has neither approved nor disapproved the contents of this news release. Listing of the common shares of the Company is subject to satisfaction of the listing requirements of the CSE, including customary deliverables in satisfaction of the conditional approval.
SOURCE: Eagle Bay Resources Corp.
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