By Devika Patel
Knoxville, Tenn., Dec. 13 - Far West Mining Ltd. said it will conduct a C$3 million non-brokered private placement of units.
The company will sell 750,000 units at C$4.00 each. The units consist of one share and one half-share warrant with each whole warrant exercisable at C$5.25 for 30 months.
The warrants may expire sooner if Far West's common shares close higher than C$6.50 for 20 consecutive trading days. In that case, the warrants will expire on the 30th day after the company notifies holders.
The company may pay a 5% finder's fee and issue a number of warrants equal to 5% of the units sold. The finder's warrants will be exercisable at C$5.25 for 30 months.
Proceeds will be used for exploration, development and general working capital.
Vancouver, B.C.-based Far West is a mineral exploration company primarily engaged in the evaluation, acquisition and exploration of mineral properties in Chile, Argentina and Australia.
| Issuer: | Far West Mining Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 750,000
|
| Price: | C$4.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 30 months
|
| Warrant strike price: | C$5.25
|
| Agent: | Non-brokered
|
| Fees: | 5% in cash and warrants
|
| Pricing date: | Dec. 13
|
| Stock symbol: | Toronto: FWM
|
| Stock price: | C$3.90 at close Dec. 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.
