By Sheri Kasprzak
New York, Jan. 5 - Watch Resources Ltd. said it has arranged a private placement for C$4 million.
The company intends to sell up to 6 million non flow-through shares at C$0.25 each and up to 10 million flow-through shares at C$0.25 each.
Proceeds will be used for working capital.
Calgary, Alta.-based Watch is an oil and natural gas exploration company.
| Issuer: | Watch Resources Ltd.
|
| Issue: | Non flow-through shares and flow-through shares
|
| Amount: | C$4 million (maximum)
|
| Pricing date: | Jan. 5
|
| Stock price: | C$0.27 at close Jan. 5
|
|
|
| Non flow-through shares
|
| Shares: | 6 million (maximum)
|
| Price: | C$0.25
|
| Warrants: | No
|
|
|
| Flow-through shares
|
| Shares: | 10 million (maximum)
|
| Price: | C$0.25
|
| Warrants: | No
|
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