By Laura Lutz
Des Moines, April 3 - Western Troy Capital Resources Inc. announced a private placement of units for C$3 million.
The company plans to sell 5 million units of one share and one half-share warrant at C$0.60 per unit. Each whole warrant will be exercisable at C$0.90 for two years.
Sprott Asset Management will subscribe for C$1 million, and a public institutional investor will subscribe for C$2 million.
The placement is in addition to the C$1 million private placement of shares with Sprott that was reported on March 27.
Proceeds of the non-brokered deal will be used for exploration.
Western Troy is a mineral exploration company based in Toronto.
| Issuer: | Western Troy Capital Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 5 million
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.90
|
| Investor: | Sprott Asset Management (for C$1 million)
|
| Agent: | Non-brokered
|
| Pricing date: | April 3
|
| Stock symbol: | TSX Venture: WRY
|
| Stock price: | C$1.00 at close April 3
|
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