Deal funds Humboldt Salt Marsh Project exploration, working capital
By Devika Patel
Knoxville, Tenn., July 25 – Wildcat Exploration Ltd. said on Friday that it raised C$1.74 million in a private placement of units. The deal priced for between C$1.1 million and C$1.65 million on July 15.
The company sold 31,545,363 units of one common share and one warrant at C$0.055 per unit. Each two-year warrant will be exercisable at C$0.075, a 6.25% discount to the July 14 closing share price of C$0.08
Proceeds will be used for exploration of the Humboldt Salt Marsh Project and general working capital.
Wildcat is a gold and base metals exploration company based in Winnipeg, Man.
Issuer: | Wildcat Exploration Ltd.
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Issue: | Units of one common share and one warrant
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Amount: | C$1,734,995
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Units: | 31,545,363
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Price: | C$0.055
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.075
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Pricing date: | July 15
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Settlement date: | July 22
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Stock symbol: | TSX Venture: WEL
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Stock price: | C$0.08 at close July 14
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Market capitalization: | C$1.7 million
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