By Devika Patel
Knoxville, Tenn., Dec. 19 - Wallbridge Mining Co. Ltd. announced it will sell C$1.6 million of units in a private placement.
The company will sell 2 million units at C$0.40 apiece through Mineralfields Group and another 2 million units at that price in a non-brokered deal.
Each unit consists of one flow-through common share and a half-share warrant. The whole two-year warrants are exercisable at C$0.80 in the first year and at C$1.00 thereafter.
Proceeds will be used for exploration.
Toronto-based Wallbridge Mining explores for and develops nickel, copper and platinum group element deposits.
| Issuer: | Wallbridge Mining Co. Ltd.
|
| Issue: | Units of one flow-through common share and a half-share warrant
|
| Amount: | C$1.6 million
|
| Units: | 4 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.80 in the first year, C$1.00 thereafter
|
| Agent: | Non-brokered (for C$800,000); Mineralfields Group (for C$800,000)
|
| Pricing date: | Dec. 19
|
| Stock symbol: | Toronto: WM
|
| Stock price: | C$0.31 at close Dec. 18
|
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