By Sheri Kasprzak
New York, Sept. 18 - Wolfden Resources Inc. priced a C$24.5 million private placement.
The non-brokered deal includes up to 4 million units at C$1.50 each and up to 10 million flow-through shares at C$1.85 each.
The units are comprised of one share and one half-share warrant with each whole warrant exercisable at C$2.00 for two years.
The offering is slated to close Oct. 5.
The proceeds from the units will be used for working capital, and the proceeds from the flow-through shares will be used for exploration on the company's properties in Nunavut and the Northwest Territories.
Wolfden, based in Thunder Bay, Ont., is a mineral exploration company.
| Issuer: | Wolfden Resources Inc.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$24.5 million
|
| Placement agent: | Non-brokered
|
| Pricing date: | Sept. 18
|
| Settlement date: | Oct. 5
|
| Stock symbol: | Toronto: WLF
|
| Stock price: | C$1.45 at close Sept. 15
|
|
|
| Flow-through shares
|
| Shares: | 10 million
|
| Price: | C$1.85
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 4 million
|
| Price: | C$1.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.00
|
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