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Gold/Mining/Energy : Golden Eagle Int. (MYNG)
MYNG 0.0700+5.7%Feb 21 4:00 PM EST
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To: larry hart who wrote (22934)5/15/2001 4:02:56 PM
From: Jim Bishop  Read Replies (1) of 34075
 
Convertible clarified in this filing:

" We entered into two Convertible Debenture Agreements with an
accredited investor and current shareholder during the first quarter of 2001
in the amount of $60,000. The terms of these Convertible Debentures, and all
convertible debentures entered into with this investor, are: a one year term;
interest accruing at 10% per annum; conversion of loan amount and any accrued
interest, or any part of those sums, at the election of the holder, to shares
of restricted common stock of the Company; a conversion rate of $.03 per
share or one-half of the average closing price during the last three days
prior to conversion, whichever is less. However, the minimum exercise price is
fixed at $.03. The offers and sales of these convertible debentures were
accomplished pursuant to the exemptions from registration found in Sections
4(2) and 4(6) of the Securities Act of 1933, as amended, and the rules
thereunder. The funds received from these investors were used to satisfy
Golden Eagle's working capital obligations associated with its exploration and
evaluation activities in Bolivia, and to meet the company's goals under its
agreement with the UCL. There was no underwriter involved in these
transactions. None of these transactions were accomplished with any form of
public advertising or general solicitation.
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