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Eagle Hill Exploration Corporation: Eagle Hill Announces Brokered Private Placement

^{Published on 2008-12-09 16:24:28 - Market Wire}
 

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 9, 2008) - Eagle Hill Exploration Corporation (TSX VENTURE:EAG) ("Eagle Hill" or the "Company") is pleased to announce that the Company has signed an engagement letter with Leede Financial Markets Inc. (the "Agent") in respect of a proposed offering by way of private placement of up to 4,000,000 common shares (the "Shares") at a price of $0.065 per Share for estimated gross proceeds of $260,000 (the "Offering").

The Offering is expected to close on or before December 31, 2008. The Offering will only be made to residents of British Columbia and Alberta and such other jurisdictions where the Shares may be sold. In respect of British Columbia and Alberta investors, the Company expects to market the Offering pursuant to an offering memorandum.

The Agent will act as agent to offer the Shares on a commercially reasonable best efforts basis. The Agent will receive a commission equal to 8% of the gross proceeds received by the Company from the Offering. In addition, the Agent will also receive common share purchase warrants (the "Agent's Warrants"), each of which entitles the holder thereof to purchase one Share (an "Agent's Warrant Share") for a period of 24 months from the closing of the Offering at a price of $0.065 per Agent's Warrant Share. The Agent will also receive a cash corporate finance fee of $5,000 from the Company. The Offering is subject to Exchange and regulatory approvals.

The Company intends to use the proceeds from the Offering for general working capital.

ON BEHALF OF THE BOARD OF DIRECTORS

P. Bradley Kitchen, President and Director

Forward-Looking Information

This news release contains forward-looking information within the meaning of the British Columbia Securities Act and comparable legislation in other jurisdictions, relating, but not limited to Eagle Hill's expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward-looking or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance.

Readers are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, known and unknown risks and uncertainties, of both a general and specific nature, that could cause actual results to differ materially from those suggested by the forward-looking information or contribute to the possibility that predictions, forecasts or projections will prove to be materially inaccurate. Eagle Hill does not undertake any obligation to update publicly or otherwise revise any information, including any forward-looking information, whether as a result of new information, future events or other factors that affect this information, except as required by law.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.