By Sheri Kasprzak
Atlanta, April 15 - Winslow Resources Inc. said it plans to head to the private placement market with an offering for up to C$3,475,000.
The company plans to sell up to 7.5 million shares at C$0.33 each and up to 2.5 million flow-through shares at C$0.40 each.
Placement agent Acumen Capital Finance Partners Ltd. also has an over-allotment option for up to 3 million additional common shares at C$0.33 each.
The deal is expected to close May 10.
Based in Calgary, Alta., Winslow is an oil and natural gas exploration and development company. It plans to use the proceeds from the flow-through shares for exploration expenses. The proceeds from the common shares will be used for exploration and drilling on the company's undeveloped lands and for working capital.
| Issuer: | Winslow Resources Inc.
|
| Issue: | Stock
|
| Amount: | C$3,475,000 (maximum)
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| Placement agent: | Acumen Capital Finance Partners Ltd.
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| Pricing date: | April 15
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| Settlement date: | May 10
|
| Stock price: | C$0.37 at close April 14
|
|
|
| Flow-through shares
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| Issue: | Flow-through common shares
|
| Shares: | 2.5 million (maximum)
|
| Price: | C$0.40
|
| Warrants: | No
|
|
|
| Common shares
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| Issue: | Common shares
|
| Shares: | 7.5 million (maximum)
|
| Greenshoe: | For up to 3 million shares
|
| Price: | C$0.33
|
| Warrants: | No
|
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