Deal sells flow-through shares, half-share warrants at C$0.20 per unit
By Devika Patel
Knoxville, Tenn., March 10 - Wolfden Resources Corp. said it increased its non-brokered private placement of units to C$1.25 million from C$800,000. The deal priced on March 7 and has a 20% greenshoe.
The company will now sell 6.25 million units of one flow-through common share and one half-share warrant at C$0.20 per unit.
Each whole warrant will be exercisable at C$0.27 for two years. The strike price reflects a 42.11% premium to the March 6 closing share price of C$0.19.
Settlement is expected April 4.
Proceeds will be used for exploration.
The base metals explorer is based in Thunder Bay, Ont.
| Issuer: | Wolfden Resources Corp.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1.25 million
|
| Greenshoe: | 20%
|
| Units: | 6.25 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.27
|
| Agent: | Non-brokered
|
| Pricing date: | March 7
|
| Upsized: | March 10
|
| Settlement date: | April 4
|
| Stock symbol: | TSX Venture: WLF
|
| Stock price: | C$0.19 at close March 6
|
| Market capitalization: | C$10.12 million
|
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