By Sheri Kasprzak
Atlanta, Feb. 22 - Hedman Resources Ltd. said it plans to raise a maximum of C$1 million and at least C$400,000 in a private placement of units.
The company will sell up to 14,285,715 units and at least 5,714,286 units at C$0.07 each.
The units are comprised of one share and one warrant. The warrants allow for an additional share at C$0.09 for two years.
The offering is expected to close March 14.
Hedman is a Toronto-based metals exploration company. The company plans to use the proceeds from the deal to further its initiatives including research and development projects, working capital and debt reduction.
| Issuer: | Hedman Resources Ltd.
|
| Issue: | Units of one share and one warrant
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| Amount: | C$1 million (maximum); C$400,000 (minimum)
|
| Units: | 14,285,715 (maximum); 5,714,286 (minimum)
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| Price: | C$0.07
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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$0.09
|
| Pricing date: | Feb. 21
|
| Settlement date: | March 14
|
| Stock price: | C$0.095 at close Feb. 21
|
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