Flow-through units sold at C$0.21 per unit to finance exploration
By Devika Patel
Knoxville, Tenn., April 2 - Wallbridge Mining Co. Ltd. said it completed a C$1.23 million non-brokered private placement of units.
The company sold 5,875,557 units of one flow-through common share and one half-share warrant at C$0.21 per unit, with each whole warrant exercisable at C$0.40 until March 30, 2013. The strike price reflects a 105.13% premium to the March 30 closing share price of C$0.195.
A 6% finder's fee was paid to Pope & Co. Ltd. and Macquarie Private Wealth Inc.
Proceeds will be used for exploration.
Toronto-based Wallbridge 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 one half-share warrant
|
| Amount: | C$1,233,867
|
| Units: | 5,875,557
|
| Price: | C$0.21
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | March 30, 2013
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Settlement date: | April 2
|
| Stock symbol: | Toronto: WM
|
| Stock price: | C$0.195 at close March 30
|
| Market capitalization: | C$31.83 million
|
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