By Sheri Kasprzak
New York, Nov. 4 - Trade Winds Ventures Inc. said it plans to raise up to C$8,005,000 in a private placement.
The offering includes up to 8 million non flow-through units at C$0.50 each and up to 6,675,000 flow-through units at C$0.60 each.
The non flow-through units are comprised of one common share and one half-share warrant. The whole warrants allow for the purchase of another non flow-through share at C$0.75 each for the first year and C$1.00 each for the second year.
The flow-through units include one flow-through share and one half-share warrant. The whole warrants allow for the purchase of another share at C$0.85 each for the first year and C$1.10 each for the second year.
Pacific International Securities Inc. and Canaccord Capital Corp. are the placement agents and have a greenshoe for up to 2,002,500 flow-through units and up to 2.4 million non flow-through units.
Proceeds will be used for exploration and development on the company's Canadian properties and for property acquisition costs, investments and working capital.
Based in Vancouver, B.C., Trade Winds is a gold exploration company.
Issuer: | Trade Winds Ventures Inc.
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Issue: | Flow-through and non flow-through units of one share and one half-share warrant
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Amount: | C$8,005,000 (maximum)
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Placement agents: | Pacific International Securities Inc. and Canaccord Capital Corp.
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Pricing date: | Nov. 3
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Stock price: | C$0.51 at close Nov. 3
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Flow-through units
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Units: | 6,675,000 (maximum)
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Greenshoe: | For up to 2,002,500 units
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Price: | C$0.60
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.85 for the first year; C$1.10 for the second year
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Non flow-through units
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Units: | 8 million (maximum)
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Greenshoe: | For up to 2.4 million units
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Price: | C$0.50
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.75 for the first year; C$1.00 for the second year
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