By Devika Patel
Knoxville, Tenn., May 7 - Wildcat Exploration Ltd. said it completed the first tranche of a C$1 million non-brokered private placement of units and stock for C$291,500. The deal priced on April 25.
The company sold 2,415,000 units at C$0.10 per unit for C$241,500 and 500,000 flow-through shares at C$0.10 apiece for C$50,000.
Each unit is comprised of one common share and one warrant. Each warrant is exercisable at C$0.20 for two years.
Proceeds will be used exploration and working capital purposes.
Wildcat is a gold and base metals exploration company based in Winnipeg, Man.
| Issuer: | Wildcat Exploration Ltd.
|
| Issue: | Units of one common share and one warrant; flow-through shares
|
| Amount: | C$1 million
|
| Agent: | Non-brokered
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| Pricing date: | April 25
|
| Settlement date: | May 7 (for C$291,500)
|
| Stock symbol: | TSX Venture: WEL
|
| Stock price: | C$0.12 at close April 21
|
|
|
| Units
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
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|
| Flow-through shares
|
| Price: | C$0.10
|
| Warrants: | No
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