By Sheri Kasprzak
New York, July 10 - Trade Winds Ventures Inc. intends to raise as much as C$5.25 million in a private placement.
The offering includes up to 2.5 million flow-through shares at C$0.50 apiece and up to 10 million non-flow-through units at C$0.40 each.
The units consist of one share and one half-share warrant. Each whole warrant is exercisable at C$0.55 for two years.
Agent Octagon Capital Corp. has a greenshoe for up to 2.5 million additional units.
Proceeds from the flow-through shares will be used for exploration and development on the company's Detour Lake and Birch Lake properties in Ontario. The proceeds from the units will be used for exploration and development costs, property acquisitions, investments and working capital.
Trade Winds, based in Timmins, Ont., is a gold exploration company.
| Issuer: | Trade Winds Ventures Inc.
|
| Issue: | Flow-through shares and non flow-through units of one share and one half-share warrant
|
| Amount: | C$5.25 million
|
| Placement agent: | Octagon Capital Corp.
|
| Pricing date: | July 10
|
| Stock symbol: | TSX Venture: TVR
|
| Stock price: | C$0.405 at close July 7
|
|
|
| Flow-through shares
|
| Shares: | 2.5 million
|
| Price: | C$0.50
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 10 million
|
| Greenshoe: | For up to 2.5 million units
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.55
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
