By Devika Patel
Knoxville, Tenn., April 9 - Western Warrior Resources Inc. announced it has taken in C$1.79 million from a private placement of units. The deal priced April 1 for C$2 million.
Western Warrior sold 7,774,306 units at C$0.23 per unit to MineralFields Group. The company planned to sell 8,695,652 units at that price.
Each unit consists of one flow-through common share and one half-share warrant with each whole warrant exercisable at C$0.30 for one year.
The warrants may expire earlier if the company's shares trade at C$0.45 or higher on a volume-weighted average basis for any 10-trading-day period. In that case, the warrants will expire 15 calendar days after the company notifies the investor.
Proceeds will be used to fund exploration programs.
Western Warrior is a Calgary, Alta.-based mineral exploration company.
| Issuer: | Western Warrior Resources Inc.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1,788,090.38
|
| Units: | 7,774,306
|
| Price: | C$0.23
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
| Investor: | MineralFields Group
|
| Pricing date: | April 1
|
| Settlement date: | April 9
|
| Stock symbol: | TSX Venture: WWR
|
| Stock price: | C$0.24 at close April 1
|
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