American Eagle Announces $23 Million Strategic Investment Backed by Eric Sprott

Core Viewpoint - American Eagle Gold Corp. is planning to raise up to C$34,540,000 through a financing that includes a Charity FT Offering and a Concurrent Offering to fund its NAK copper-gold porphyry project and general corporate purposes [1][6][14]. Financing Details - The financing consists of: - Up to 19,200,000 common shares at C$1.20 per share from the Charity FT Offering, expected to raise C$23,040,000 [1][2]. - Up to 14,935,065 common shares at C$0.77 per share from the Concurrent Offering, expected to raise up to C$11,500,000 [1][5]. - The total gross proceeds from both offerings will be C$34,540,000 [1]. Strategic Investments - Eric Sprott, through a controlled corporation, will acquire approximately 9.9% equity interest in the Company by purchasing shares from the Charity FT Offering, contributing C$23,040,000 [2][3]. - The Company has existing agreements with South32 and Teck, which include equity participation rights in future financings [5]. Use of Proceeds - Proceeds from the offerings will be used to further test the Company's thesis at the NAK project and to support expanded drill programs in 2026 and 2027 [6][8]. - The Company aims to build on previous drilling successes that identified additional high-grade zones at NAK [6][11]. Project Overview - The NAK Project is located in the Babine copper-gold porphyry district of British Columbia and has shown significant potential based on historical and recent drilling results [11]. - The project benefits from excellent infrastructure and has a large near-surface copper-gold system [11]. Offering Conditions - The Offering is expected to close around March 20, 2026, subject to regulatory approvals and other closing conditions [9]. - No warrants will be issued in connection with the Offering, and a commission of up to 1% may be paid [9][14].