By Sheri Kasprzak
Atlanta, Jan. 18 - Trade Winds Ventures Inc. raised C$1,337,680 in a private placement, the company said.
The offering, which closed Jan. 12, included 955,484 flow-through units at C$1.40 each.
The units were comprised of one flow-through share and one half of a transferable non flow-through share warrant. The whole warrants allow for an additional share at C$2 each for one year.
All of the shares, except for 11,100 shares, issued in the offering are subject to a four-month hold, which expires April 30, 2005. The remaining shares have a hold that expires May 1, 2005.
Trade Winds is a precious metals exploration company based in Vancouver, B.C. The proceeds from the deal will be used for its exploration and development projects on the Detour Lake and Birch Lake properties in Ontario. The flow-through funds will be renounced for the 2004 tax year.
| Issuer: | Trade Winds Ventures Inc.
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| Issue: | Flow-through units
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| Amount: | C$1,337,680
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| Units: | 955,484
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| Price: | C$1.40
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| Warrants: | One half transferable non flow-through share warrant per unit
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| Warrant expiration: | One year
|
| Warrant strike price: | C$2.00
|
| Settlement date: | Jan. 12
|
| Stock price: | C$1.05 at close Jan. 12
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