Deal sells units of one flow-through share and a half-share warrant
By Devika Patel
Knoxville, Tenn., Dec. 1 – Wolfden Resources Corp. said it plans a C$1.01 million non-brokered private placement of units with a 20% greenshoe. The deal priced Nov. 27.
The company will sell 4.6 million units of one flow-through common share and a half-share warrant at C$0.22 per unit.
Each whole, two-year warrant will be exercisable at C$0.30, a 50% premium to the Nov. 26 closing share price of C$0.20.
Settlement is expected Dec. 19.
Proceeds will be used for exploration.
The base metals explorer is based in Thunder Bay, Ont.
| Issuer: | Wolfden Resources Corp.
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| Issue: | Units of one flow-through common share and one half-share warrant
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| Amount: | C$1,012,000
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| Greenshoe: | 20%, or 920,000 units
|
| Units: | 4.6 million
|
| Price: | C$0.22
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.30
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| Agent: | Non-brokered
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| Pricing date: | Nov. 27
|
| Settlement date: | Dec. 19
|
| Stock symbol: | TSX Venture: WLF
|
| Stock price: | C$0.20 at close Nov. 26
|
| Market capitalization: | C$108.4 million
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