Non-brokered offering conducted with lone investor MineralFields Group
By Devika Patel
Knoxville, Tenn., Dec. 21 - Trueclaim Exploration, Inc. said it plans to conduct a non-brokered private placement of units with the MineralFields Group. It will raise C$1.25 million.
The company will sell 4,807,693 units of one flow-through common share and one half-share warrant at C$0.26 per unit.
Each full warrant will be exercisable at C$0.40 for 18 months. The strike price is a 77.78% premium to the Dec. 20 closing share price of C$0.225.
Proceeds will be used to fund the exploration of the Scadding gold project.
Based in St. Thomas, Ont., Trueclaim is a precious and base metals mining company.
| Issuer: | Trueclaim Exploration, Inc.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1.25 million
|
| Units: | 4,807,693
|
| Price: | C$0.26
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Investor: | MineralFields Group
|
| Pricing date: | Dec. 21
|
| Stock symbol: | TSX Venture: TRM
|
| Stock price: | C$0.225 at close Dec. 20
|
| Market capitalization: | C$12.65 million
|
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