By Laura Lutz
Des Moines, March 3 - Freewest Resources Canada Inc. announced plans for a private placement of units for up to C$3 million.
The company said it will sell up to 8,571,428 units of one share and one warrant at C$0.35 per unit. Each warrant will be exercisable at C$0.50 for one year.
Settlement is expected on March 6.
Proceeds will be used for exploration, working capital and general corporate purposes.
Freewest is a Montreal-based mineral exploration company.
| Issuer: | Freewest Resources Canada Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$3 million
|
| Units: | 8,571,428
|
| Price: | C$0.35
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.50
|
| Pricing date: | March 3
|
| Settlement date: | March 6
|
| Stock symbol: | TSX Venture: FWR
|
| Stock price: | C$0.37 at close March 3
|
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