Non-brokered deal, at C$0.075, funds drilling of copper, gold, silver
By Devika Patel
Knoxville, Tenn., Jan. 14 - Alder Resources Ltd. said it plans a C$1 million non-brokered private placement of units.
The company will sell 13,333,333 units of one common share and one half-share warrant at C$0.075 per unit.
Each whole warrant is exercisable at C$0.10 for two years. The strike price is a 25% premium to the Jan. 11 closing share price of C$0.08.
Settlement is expected Feb. 15.
Proceeds will be used for drilling of the high-grade copper-gold-silver mineralization that was discovered by exploration activities of the company over the past year 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 common share and a half-share warrant
|
| Amount: | C$1 million
|
| Units: | 13,333,333
|
| Price: | C$0.075
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 14
|
| Settlement date: | Feb. 15
|
| Stock symbol: | TSX Venture: ALR
|
| Stock price: | C$0.08 at close Jan. 11
|
| Market capitalization: | C$5.83 million
|
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