Company sells units at C$0.27, along with one-year C$0.45 warrants
By Devika Patel
Knoxville, Tenn., May 3 - Wind River Energy Corp. said it raised C$845,970 in the first tranche of a C$3 million non-brokered private placement of units. The deal priced March 26.
The company is selling units of one common share and one half-share warrant at C$0.27 per unit, with each one-year warrant exercisable at C$0.45. The strike price reflects a 66.67% premium to the March 23 closing share price of C$0.27.
Wind River sold 3,133,222 units in the initial tranche. Jordan Capital Markets Inc., Canaccord Genuity Corp. and CIBC Wood Gundy were paid finder's fees for this tranche.
Proceeds will be used for exploration, development and drilling programs, efforts to negotiate and acquire future leases and general working capital.
Wind River Energy is a capital pool company based in Vancouver, B.C.
| Issuer: | Wind River Energy Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3 million
|
| Price: | C$0.27
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.45
|
| Agent: | Non-brokered
|
| Pricing date: | March 26
|
| Settlement date: | May 3 (for C$845,970)
|
| Stock symbol: | TSX Venture: WVR
|
| Stock price: | C$0.27 at close March 23
|
| Market capitalization: | C$15.78 million
|
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