Deal sells units of one flow-through share and a half-share warrant
By Devika Patel
Knoxville, Tenn., Dec. 1 – Wolfden Resources Corp. said it increased a non-brokered private placement of units to C$1.61 million from C$1.01 million. The deal priced with a 20% greenshoe on Nov. 27.
The company will now sell 7.3 million units of one flow-through common share and a half-share warrant at C$0.22 per unit.
Each whole, two-year warrant will be exercisable at C$0.30, a 50% premium to the Nov. 26 closing share price of C$0.20.
Settlement is expected Dec. 19.
Proceeds will be used for exploration.
The base metals explorer is based in Thunder Bay, Ont.
Issuer: | Wolfden Resources Corp.
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Issue: | Units of one flow-through common share and one half-share warrant
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Amount: | C$1,606,000
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Greenshoe: | 20%, or 920,000 units
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Units: | 7.3 million
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Price: | C$0.22
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.30
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Agent: | Non-brokered
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Pricing date: | Nov. 27
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Upsized: | Dec. 1
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Settlement date: | Dec. 19
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Stock symbol: | TSX Venture: WLF
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Stock price: | C$0.20 at close Nov. 26
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Market capitalization: | C$9.09 million
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