By Sheri Kasprzak
New York, March 30 - Aldershot Resources Ltd. said it has wrapped a private placement for C$1.5 million, oversubscribed from the originally announced C$750,000.
The company sold 5 million units of one share and one warrant. Each warrant is exercisable at C$0.35 for two years.
The C$0.30 unit price is a 3.4% premium to the company's C$0.29 closing stock price March 15, and the warrant strike price a 20.6% premium to the same stock price.
The deal priced on March 15 as a C$750,000 offering of 2.5 million units.
Proceeds will be used for exploration on the company's uranium projects in Quebec and British Columbia, as well as for working capital.
Based in Vancouver, B.C., Aldershot is a mineral exploration company.
| Issuer: | Aldershot Resources Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.5 million
|
| Units: | 5 million
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| Price: | C$0.30
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.35
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| Placement agent: | Non-brokered
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| Pricing date: | March 15
|
| Settlement date: | March 29
|
| Stock symbol: | TSX Venture: ALZ
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| Stock price: | C$0.29 at close March 15
|
| Stock price: | C$0.63 at close March 29
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