Deal comes with warrants with strike price at 50% premium
By Susanna Moon
Chicago, Dec. 18 – Wolfden Resources Corp. said it wrapped a non-brokered private placement of units for C$2,248,180. The deal priced with a 20% greenshoe on Nov. 27 and was upsized twice.
As previously announced, the deal was increased by 40% to C$1.61 million from C$1.01 million on Dec. 1 and then by another 40% to C$2.48 million from C$1.61 million on Dec. 4.
In the end, the company sold 10,219,000 flow-through units of one flow-through common share and a half-share warrant at C$0.22 each.
Each two-year warrant is exercisable at C$0.30, a 50% premium to the Nov. 26 closing share price of C$0.20.
Proceeds will be used for exploration.
The base metals explorer is based in Thunder Bay, Ont.
| Issuer: | Wolfden Resources Corp.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$2,248,180
|
| Greenshoe: | 20%
|
| Units: | 10,219,000
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 27
|
| Upsized: | Dec. 1, Dec. 4
|
| Settlement date: | Dec. 18
|
| Stock symbol: | TSX Venture: WLF
|
| Stock price: | C$0.20 at close Nov. 26
|
| Market capitalization: | C$9.09 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
