By Devika Patel
Knoxville, Tenn., Jan. 18 - WWI Resources Ltd. announced it has raised C$3 million in a non-brokered private placement of units. The deal priced Dec. 20.
The company sold 15 million units at C$0.20 apiece. Each unit consists of one common share and one warrant. The warrants are exercisable at C$0.26 for two years. The Radcliffe Foundation bought 14.25 million of the units for C$2.85 million.
The company paid a finder's fee of 150,000 units.
Proceeds will be used for general working capital and to continue researching opportunities in the natural resources sector.
Vancouver, B.C.-based WWI Resources, formerly W3 Solutions Inc., acquires properties in the natural resources industry.
| Issuer: | WWI Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3 million
|
| Units: | 15 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.26
|
| Agent: | Non-brokered
|
| Investor: | Radcliffe Foundation (for C$2.85 million)
|
| Fees: | 150,000 units
|
| Pricing date: | Dec. 20
|
| Settlement date: | Jan. 18
|
| Stock symbol: | TSX Venture: WWI
|
| Stock price: | C$0.30 at close Dec. 20
|
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