By Laura Lutz
Des Moines, Oct. 13 - Leeward Capital Corp. arranged two non-brokered private placements for total proceeds up to C$1.25 million.
The company plans to sell 5 million units of one non flow-through share and one non-transferable warrant for C$0.10 per unit and 5 million units of one flow-through share and one non-transferable flow-through warrant for C$0.15 per unit.
The non flow-through warrants will be exercisable at C$0.13 for one year, and the flow-through warrants will be exercisable at C$0.22 for one year.
The expiry of the non flow-through warrants will be automatically accelerated to 14 days if the average weighted trading price of the company's shares is at or above C$0.20 for 10 consecutive trading days.
Similarly, the expiry of the flow-through warrants will be accelerated to 14 days if the average weighted trading price of the shares is at least C$0.30 for 10 consecutive trading days.
Proceeds from the non flow-through units will be used for working capital, and proceeds from the flow-through placement will be used for drilling at the company's Nithi Mountain Project in central British Columbia.
Settlement of the non-brokered deals is expected on Oct. 31.
Leeward is a Calgary, Alta.-based resource company focused on molybdenum, diamonds and gold.
| Issuer: | Leeward Capital Corp.
|
| Issue: | Units of one non flow-through share and one non flow-through warrant and units of one flow-through share and one flow-through warrant
|
| Amount: | C$1.25 million
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 13
|
| Stock symbol: | TSX Venture: LWC
|
| Stock price: | C$0.09 at close on Oct. 12
|
|
|
| Non flow-through units
|
| Units: | 5 million
|
| Price: | C$0.10
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.13
|
|
|
| Flow-through units
|
| Units: | 5 million
|
| Price: | C$0.15
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.22
|
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