By Devika Patel
Knoxville, Tenn., April 20 - TTM Resources Inc. said it will conduct a C$2 million non-brokered private placement of units.
The company will sell 3.5 million units of one flow-through common share and one transferable warrant at C$0.57 per unit. Each two-year warrant will be exercisable at C$0.75 in the first year and at C$1.00 in the second year.
Proceeds will be used for technical drilling and exploration.
Based in Vancouver, B.C., TTM Resources is a junior resource exploration company focused on four assets in British Columbia: The Chu Molybdenum project, the newly acquired Terrace Molybdenum project, the Deeker Creek Molybdenum project and the Moly/Gold project.
| Issuer: | TTM Resources Inc.
|
| Issue: | Units of one flow-through common share and one warrant
|
| Amount: | C$1,995,000
|
| Units: | 3.5 million
|
| Price: | C$0.57
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75 in the first year, C$1.00 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | April 20
|
| Stock symbol: | TSX Venture: TTQ
|
| Stock price: | C$0.435 at close April 20
|
| Market capitalization: | C$23.8 million
|
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