Non-brokered deal sells 16 million units of one share and a warrant
By Devika Patel
Knoxville, Tenn., April 23 - Heatherdale Resources Ltd. said it raised about C$1.1 million in a non-brokered private placement of units. The deal priced for about C$1 million on April 7.
The company sold about 16 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.
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.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$1.1 million (approximate)
|
| Units: | 16 million (approximate)
|
| Price: | C$0.07
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | April 7
|
| Settlement date: | April 23
|
| Stock symbol: | TSX Venture: HTR
|
| Stock price: | C$0.08 at close April 4
|
| Market capitalization: | C$7.21 million
|
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