Non-brokered deal sells units of one share and one warrant at C$0.40
By Devika Patel
Knoxville, Tenn., April 1 – Wilton Resources Inc. said it settled a C$1.09 million second tranche of a C$2 million non-brokered private placement of units. The deal priced on March 17 and raised C$803,200 in the first tranche on March 23. The offering was increased from C$1 million on March 31.
The company is selling 5 million units of one common share and one warrant at C$0.40 per unit. It sold 2,008,000 units in the initial tranche and 2,725,500 units in the second tranche.
Each warrant is exercisable at C$0.60 for two years. The strike price represents a 50% premium to the March 16 closing share price of C$0.40.
Proceeds will be used for general corporate purposes and future working capital.
The oil and natural gas exploration and development company is based in Calgary, Alta.
| Issuer: | Wilton Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2 million
|
| Units: | 5 million
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Pricing date: | March 17
|
| Upsized: | March 31
|
| Settlement date: | March 23 (for C$803,200), April 1 (for C$1,090,200)
|
| Stock symbol: | TSX Venture: WIL
|
| Stock price: | C$0.40 at close March 16
|
| Market capitalization: | C$12.98 million
|
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