By Devika Patel
Knoxville, Tenn., Jan. 9 - Western Warrior Resources Inc. announced it has will conduct a private placement of units to raise up to C$1.5 million.
The company plans to sell up to 6 million units at C$0.25 per unit. Each unit consists of one share and one warrant with each warrant exercisable at C$0.35 each for one year.
The warrants may expire earlier if the company's shares trade at C$1.25 or higher on a volume-weighted average basis for any 20-trading-day period. In that case, the warrants will expire 15 calendar days after the company notifies holders.
Proceeds will be used to fund exploration programs and for working capital.
Western Warrior is a Calgary, Alta.-based mineral exploration company.
| Issuer: | Western Warrior Resources Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 6 million
|
| Price: | C$0.25
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.35
|
| Pricing date: | Jan 9
|
| Stock symbol: | TSX Venture: WWR
|
| Stock price: | C$0.23 at close Jan. 9
|
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