By Sheri Kasprzak
Atlanta, June 24 - East West Resource Corp. has closed a private placement for C$1,630,999, an increase from the C$1 million the deal had been downsized to earlier this year.
The company sold 13,591,666 units at C$0.12 each.
A total of 11,508,333 units were sold on a flow-through basis and a total of 2,083,333 on a non flow-through basis.
The flow-through units include one flow-through share and one warrant and the non flow-through units include one common share and one warrant.
The warrants are exercisable at C$0.15 each for two years.
Power One Capital Markets Ltd. was the placement agent.
The deal was first announced April 14 as a C$2 million offering of 13,333,333 units at C$0.15 each with the warrants exercisable at C$0.20 each. The offering was downsized to C$1 million on May 26.
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$1,630,999
|
| Placement agent: | Power One Capital Markets Ltd.
|
| Pricing date: | April 14
|
| Settlement date: | June 23
|
| Stock price: | C$0.14 at close April 14
|
| Stock price: | C$0.12 at close June 23
|
|
|
| Flow-through units
|
| Issue: | Flow-through units of one share and one warrant
|
| Units: | 11,508,333
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
|
|
| Common share units
|
| Issue: | Non flow-through units of one share and one warrant
|
| Units: | 2,083,333
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
|
|
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