Non-brokered offering funds exploration and general working capital
By Devika Patel
Knoxville, Tenn., July 14 – Valterra Resource Corp. said it will conduct a C$1.25 million non-brokered private placement of units with a 10% greenshoe.
The company will sell 10 million flow-through units of one flow-through common share and one half-share warrant at C$0.05 per unit and 15 million units of one common share and one warrant at C$0.05 per unit.
Each whole warrant is exercisable at C$0.10 for five years. The strike price represents a 150% premium to the July 13 closing share price of C$0.04.
Proceeds will be used for corporate purposes and exploration on Valterra's porphyry/shear-hosted copper-gold-silver Swift Katie Project in British Columbia.
Valterra is a mining company based in Vancouver, B.C.
| Issuer: | Valterra Resource Corp.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one warrant
|
| Amount: | C$1.25 million
|
| Greenshoe: | 10%
|
| Price: | C$0.05
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | July 14
|
| Stock symbol: | TSX Venture: VQA
|
| Stock price: | C$0.04 at close July 13
|
| Market capitalization: | C$1.31 million
|
|
|
| Flow-through units
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| Amount: | C$500,000
|
| Units: | 10 million
|
| Warrants: | One half-share warrant per unit
|
|
|
| Units
|
| Amount: | C$750,000
|
| Units: | 15 million
|
| Warrants: | One warrant per unit
|
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