Proceeds for exploration on Block A JV, GoWest projects in Ontario
By Marisa Wong
Madison, Wis., Oct. 25 - Trade Winds Ventures Inc. said it will sell 8.1 million flow-through common shares on a bought deal basis.
The shares will be sold at C$0.31 per share to raise C$2.51 million. The price per share represents a 16.98% premium to the Oct. 22 closing share price of C$0.265.
The deal is expected to close on Nov. 12.
Desjardins Securities Inc. is the underwriter for the offering and has the option to purchase an additional 15% of flow-through shares prior to closing.
Proceeds will be used for eligible exploration expenditures on the company's Block A JV and GoWest projects, both located immediately west of Detour Gold's Detour Lake gold project in northeastern Ontario.
Trade Winds is a Vancouver, B.C.-based gold exploration and development company.
| Issuer: | Trade Winds Ventures Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$2,511,000
|
| Greenshoe: | 15% more flow-through shares
|
| Shares: | 8.1 million
|
| Price: | C$0.31
|
| Warrants: | No
|
| Agent: | Desjardins Securities Inc.
|
| Pricing date: | Oct. 25
|
| Settlement date: | Nov. 12
|
| Stock symbol: | TSX Venture: TWD
|
| Stock price: | C$0.265 at close Oct. 22
|
| Market capitalization: | C$34.32 million
|
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