Company sells flow-through units to finance its exploration in Canada
By Devika Patel
Knoxville, Tenn., March 22 - GWR Resources Inc. said it plans a C$3 million private placement of units.
The company will sell 6,666,666 units of one flow-through common share and a half-share warrant at C$0.45 apiece. Each whole 18-month warrant will be exercisable at C$0.65 in the first nine months and at C$0.85 in the second nine months.
The strike prices are 68.83% and 120.78% premiums to the March 21 closing share price of C$0.385.
Proceeds will be used for exploration on the company's Lac La Hache property in British Columbia and its Saint Sabine property in Quebec.
GWR is a resource exploration company based in Armstrong, B.C.
Issuer: | GWR Resources Inc.
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Issue: | Units of one flow-through common share and a half-share warrant
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Amount: | C$3 million
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Units: | 6,666,666
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Price: | C$0.45
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Warrants: | One half-share warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.65 in the first nine months, C$0.85 in the second nine months
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Pricing date: | March 22
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Stock symbol: | TSX Venture: GWQ
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Stock price: | C$0.39 at close March 22
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Market capitalization: | C$31.86 million
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