By Sheri Kasprzak
New York, Nov. 7 - Northwest Resources Ltd. said it has arranged a private placement for A$1 million.
The offering includes 4 million shares at A$0.25 each to a group of sophisticated investors in Australia.
The investors will receive one option for every three shares purchased. The options are exercisable at A$0.20 each through Jan. 31, 2008.
Eligible shareholders will also be able to participate in a stock purchase plan under the same terms of the private placement for up to A$1 million.
The private placement is scheduled to wrap on Nov. 17.
Based in Darling Point, New South Wales, Northwest is a mineral exploration company.
| Issuer: | Northwest Resources Ltd.
|
| Issue: | Stock
|
| Amount: | A$1 million
|
| Shares: | 4 million
|
| Price: | A$0.25
|
| Options: | One option per three shares purchased
|
| Option price: | A$0.20
|
| Option expiration: | Jan. 31, 2008
|
| Pricing date: | Nov. 7
|
| Settlement date: | Nov. 17
|
| Stock price: | A$0.27 at close Nov. 7
|
|
|
© 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.
