Strike price is 81.82% premium to company's closing price on Jan. 10
By Susanna Moon
Chicago, Jan. 11 - Alder Resources Ltd. said it will raise up to C$3 million through a non-brokered private placement of units. The company will sell 30 million units of one share and one half-share warrant at C$0.10 each.
Each whole warrant is exercisable at C$0.20 for 24 months after issue.
The strike price is an 81.82% premium to the company's closing price on Jan. 10, C$0.11.
If at any time after four months and one day from the closing date the company's shares trade at C$0.40 or higher for 30 days on a volume-weighted adjusted basis, the company will have the right to accelerate the expiry of the warrants with a 30-day notice.
Settlement is scheduled for Feb. 1.
Proceeds will be used to fund exploration and for general corporate purposes.
Alder is a Vancouver, B.C.-based resource company focused on the development of gold and base metal projects in Latin America.
| Issuer: | Alder Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 30 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.20
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 11
|
| Settlement date: | Feb. 1
|
| Stock symbol: | TSX Venture: ALR
|
| Stock price: | C$0.11 at close Jan. 10
|
| Market capitalization: | C$4.25 million
|
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