By Sheri Kasprzak
Atlanta, April 14 - East West Resource Corp. said it plans to raise up to C$2 million in a brokered private placement and another C$1 million in a non-brokered offering.
In the brokered deal, the company will sell up to 13,333,333 units at C$0.15 each.
Up to C$1.5 million will be issued on a flow-through basis and up to C$1 million will be issued on a non flow-through basis.
The units include one share and one warrant. The warrants allow for an additional share at C$0.20 each for two years.
PowerOne Capital Markets Ltd. is the placement agent in the brokered deal.
The proceeds from this portion of the deal will be used for exploration on base metal and gold properties in the Shebandowan Belt near Thunder Bay.
The non-brokered offering will include 6,666,667 units sold under the same terms to two U.K.-based corporations.
Based in Vancouver, B.C., East West is a gold and base metals exploration and development company.
| Issuer: | East West Resource Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2 million (maximum)
|
| Units: | 13,333,333 (maximum)
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Placement agent: | PowerOne Capital Markets Ltd.
|
| Pricing date: | April 13
|
| Stock price: | C$0.14 at close April 13
|
|
|
| Issuer: | East West Resource Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1 million (maximum)
|
| Units: | 6,666,667 (maximum)
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Pricing date: | April 13
|
| Stock price: | C$0.14 at close April 13
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
