By Laura Lutz
Des Moines, April 13 - Leeward Capital Corp. announced a planned private placement of units for C$2.5 million.
The company intends to sell 5,882,354 flow-through units at C$0.34 each and 1,666,668 non flow-through units at C$0.30 each.
Each flow-through unit will consist of one flow-through share and one half-share warrant. Each non flow-through unit will consist of one non flow-through share and one half-share warrant.
The warrants will each be exercisable at C$0.40 for two years.
Expiry of the warrants may be accelerated to 30 days if the closing price of the company's shares is at least C$0.50 for 21 consecutive days at any time after Jan. 1, 2008.
Settlement is expected on April 26.
The deal will be non-brokered.
Proceeds will be used for molybdenum exploration and working capital.
Leeward is a Calgary, Alta.-based resource company focused on molybdenum, diamonds and gold.
| Issuer: | Leeward Capital Corp.
|
| Issue: | Units of one flow-through share and one half-share warrant; units of one non flow-through share and one half-share warrant
|
| Amount: | C$2.5 million
|
| Agent: | Non-brokered
|
| Pricing date: | April 13
|
| Settlement date: | April 26
|
| Stock symbol: | TSX Venture: LWC
|
| Stock price: | C$0.31 at close April 13
|
|
|
| Flow-through units
|
| Units: | 5,882,354
|
| Price: | C$0.34
|
| Warrants: | One half-share warrant
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
|
|
| Non flow-through units
|
| Units: | 1,666,668
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
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