By Laura Lutz
Washington, Dec. 21 - Adroit Resources Inc. plans to raise C$2 million from two private placements of units.
In the first, the company plans to sell up to 2,857,143 flow-through units to Canadian investors at C$0.35 per unit, for total proceeds of C$1 million. Each unit will consist of one flow-through share and one half-share transferable warrant. Each whole warrant will be exercisable for one non flow-through share for three years, at C$0.50 in the first year and at C$0.60 thereafter.
The second placement, for both Canadian and European investors, will include 2,857,143 non flow-through units of one non flow-through share and one whole warrant at C$0.35 per unit, also for total proceeds of C$1 million. The warrants will carry the same terms as in the other placement.
Proceeds will be used for working capital, current obligations and development of the company's properties.
Adroit is a Vancouver, B.C.-based mineral exploration company.
Flow-through placement
| Issuer: | Adroit Resources Inc.
|
| Issue: | Units of one flow-through share and one half-share non flow-through warrant
|
| Amount: | C$1 million
|
| Units: | 2,857,143
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.50 in the first year; C$0.60 thereafter
|
| Pricing date: | Dec. 21
|
| Stock symbol: | TSX Venture: ADT
|
| Stock price: | C$0.345 at close Dec. 21
|
|
|
| Non flow-through placement
|
| Issuer: | Adroit Resources Inc.
|
| Issue: | Units of one non flow-through share and one non flow-through warrant
|
| Amount: | C$1 million
|
| Units: | 2,857,143
|
| Price: | C$0.35
|
| Warrants: | One per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.50 in the first year; C$0.60 thereafter
|
| Pricing date: | Dec. 21
|
| Stock symbol: | TSX Venture: ADT
|
| Stock price: | C$0.345 at close Dec. 21
|
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