Deal offers two types of unit, funds exploration and working capital
By Devika Patel
Knoxville, Tenn., Sept. 7 - WestKam Gold Corp. said it plans a C$1.76 million non-brokered private placement of units.
The company will sell 5 million units of one common share and one warrant at C$0.15 per unit and 6.75 million flow-through units of one flow-through common share and one warrant at C$0.15 per unit.
Each warrant is exercisable at C$0.30 for two years. The strike price reflects a 100% premium to the Sept. 6 closing share price of C$0.15.
Proceeds will be used for a multi-faceted exploration program on the Bonaparte Gold Project and general working capital.
WestKam is a natural resource and gold explorer in Vancouver, B.C.
| Issuer: | WestKam Gold Corp.
|
| Issue: | Units of one common share and one warrant, flow-through units of one flow-through common share and one warrant
|
| Amount: | C$1,762,500
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 7
|
| Stock symbol: | TSX Venture: WKG
|
| Stock price: | C$0.15 at close Sept. 6
|
| Market capitalization: | C$4.43 million
|
|
|
| Units
|
| Amount: | C$750,000
|
| Units: | 5 million
|
|
|
| Flow-through units
|
| Amount: | C$1,012,500
|
| Units: | 6.75 million
|
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