Funds used for engineering studies, preliminary economic assessment
By Devika Patel
Knoxville, Tenn., March 2 - Heatherdale Resources Ltd. said it settled a C$4.15 million private placement of units. The deal priced for about C$5 million on Dec. 12.
The company sold 9,216,333 units at C$0.45 per unit. Each unit consists of one common share and one warrant. Each warrant will be exercisable at C$0.60 for 15 months. The strike price is a 33.33% premium to the Dec. 9 closing share price of C$0.45.
Proceeds will be used for engineering studies and a preliminary economic assessment of the Niblack property in Alaska, general corporate and working capital purposes.
Heatherdale is a Vancouver, B.C., copper, gold, zinc and silver explorer.
| Issuer: | Heatherdale Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$4,147,350
|
| Units: | 9,216,333
|
| Price: | C$0.45
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 15 months
|
| Warrant strike price: | C$0.60
|
| Pricing date: | Dec. 12
|
| Settlement date: | March 2
|
| Stock symbol: | TSX Venture: HTR
|
| Stock price: | C$0.40 at close Dec. 12
|
| Market capitalization: | C$38.59 million
|
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