4,304,418 units of a share, half-share warrant sold at $0.70 per unit
By Devika Patel
Knoxville, Tenn., March 15 - White Mountain Titanium Corp. raised $3.01 million in a private placement of units on March 11, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 4,304,418 units of one common share and a half-share warrant at $0.70 per unit.
The whole warrants will each be exercisable at $0.90, a 23.29% premium to $0.73, the March 8 closing share price. The warrants expire on July 25, 2014.
Seminario & Cia Sociedad Agente de Bolsa was the agent.
Vancouver, B.C.-based White Mountain holds mining concessions on the Cerro Blanco property consisting of nine fully constituted exploitation mining concessions and 24 exploitation mining concessions in the process of being constituted.
| Issuer: | White Mountain Titanium Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | $3,013,093
|
| Units: | 4,304,418
|
| Price: | $0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | July 25, 2014
|
| Warrant strike price: | $0.90
|
| Agent: | Seminario & Cia Sociedad Agente de Bolsa
|
| Settlement date: | March 11
|
| Stock symbol: | OTCBB: WMTM
|
| Stock price: | $0.73 at close March 8
|
| Market capitalization: | $46.6 million
|
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