Non-brokered deal sells 14.3 million units of one share and a warrant
By Devika Patel
Knoxville, Tenn., April 7 - Heatherdale Resources Ltd. said it will raise about C$1 million in a non-brokered private placement of units.
The company will sell about 14.3 million units of one common share and a warrant at C$0.07 per unit.
Each warrant is exercisable at C$0.10 for three years. The strike price reflects a 25% premium to the April 4 closing share price of C$0.08.
Settlement is expected April 15.
Proceeds will be used to advance drill target generation at the Niblack Project's Dama zone and for working capital purposes.
Vancouver, B.C.-based Heatherdale is a metals exploration and development company.
Issuer: | Heatherdale Resources Ltd.
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Issue: | Units of one common share and a warrant
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Amount: | C$1 million (approximate)
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Units: | 14.3 million (approximate)
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Price: | C$0.07
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Warrants: | One warrant per unit
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Warrant expiration: | Three years
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Warrant strike price: | C$0.10
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Agent: | Non-brokered
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Pricing date: | April 7
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Settlement date: | April 15
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Stock symbol: | TSX Venture: HTR
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Stock price: | C$0.08 at close April 4
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Market capitalization: | C$9.61 million
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