By Devika Patel
Knoxville, Tenn., Dec. 31 - Freewest Resources Canada Inc. said it settled a C$2.3 million private placement of flow-through common shares.
The company sold 11.5 million flow-through common shares at C$0.20 per share. Each share comes with a half-share warrant. Each whole warrant is exercisable at C$0.40 for two years.
Proceeds will be used for exploration.
Freewest is a Montreal-based mineral exploration company.
| Issuer: | Freewest Resources Canada Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$2.3 million
|
| Shares: | 11.5 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per share
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Settlement date: | Dec. 31
|
| Stock symbol: | TSX Venture: FWR
|
| Stock price: | C$0.16 at close Dec. 30
|
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