Non-brokered deal, at C$0.05, funds exploration on the Rosita project
By Devika Patel
Knoxville, Tenn., April 16 - Alder Resources Ltd. said it plans a C$1 million non-brokered private placement of units.
The company will sell 20 million units of one common share and one half-share warrant at C$0.05 per unit.
Each whole warrant is exercisable at C$0.07 for three years. The strike price is a 75% premium to the April 15 closing share price of C$0.04.
Settlement is expected May 9.
Proceeds will be used for exploration activities on the Rosita project, including metallurgical studies and drill-testing the supergene or surface enriched mineralization targets, and general corporate purposes.
Alder is a Vancouver, B.C.-based resource company focused on the development of gold and base metal projects in Latin America.
| Issuer: | Alder Resources Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1 million
|
| Units: | 20 million
|
| Price: | C$0.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.07
|
| Agent: | Non-brokered
|
| Pricing date: | April 16
|
| Settlement date: | May 9
|
| Stock symbol: | TSX Venture: ALR
|
| Stock price: | C$0.04 at close April 15
|
| Market capitalization: | C$3.27 million
|
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