Offering to finance exploration, property investigations, acquisitions
By Devika Patel
Knoxville, Tenn., Oct. 6 - Wealth Minerals Ltd. said it will sell 4 million units of one common share and one transferable warrant in a non-brokered private placement.
The company will raise C$1.44 million by selling the units at C$0.36 apiece. Each warrant will be exercisable at C$0.50 for two years. The strike price reflects an 11.43% premium to the Oct. 5 closing share price of C$0.46.
Proceeds will be used for be used to fund exploration programs on the company's uranium and rare earth exploration projects in Argentina, for ongoing mineral property investigations and potential acquisitions and for general working capital on the company's uranium and rare earth exploration projects in Argentina, ongoing mineral property investigations and potential acquisitions and general working capital.
Wealth is a Vancouver, B.C.-based mineral exploration company.
| Issuer: | Wealth Minerals Ltd.
|
| Issue: | Units of one common share and one transferable warrant
|
| Amount: | C$1.44 million
|
| Units: | 4 million
|
| Price: | C$0.36
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 6
|
| Stock symbol: | TSX Venture: WML
|
| Stock price: | C$0.46 at close Oct. 5
|
| Market capitalization: | C$17.48 million
|
© 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.
