By Devika Patel
Knoxville, Tenn., March 8 - Trade Winds Ventures Inc. said it increased a private placement of units to C$3 million from C$2 million. The deal priced March 3.
The company will sell 20 million units of one common share and a half-share warrant at C$0.15 apiece. Each whole warrant is exercisable at C$0.20 for one year.
M Partners Inc. is the agent and has a 10% greenshoe for C$300,000.
Proceeds will be used for exploration of Trade Winds' Block A and Gowest gold project in Ontario and for general working capital.
Trade Winds, based in Timmins, Ont., is a gold exploration company.
| Issuer: | Trade Winds Ventures Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$3 million
|
| Greenshoe: | 10%, or C$300,000
|
| Units: | 20 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.20
|
| Agent: | M Partners Inc.
|
| Pricing date: | March 3
|
| Upsized: | March 8
|
| Stock symbol: | TSX Venture: TWD
|
| Stock price: | C$0.19 at close March 2
|
| Market capitalization: | C$12.7 million
|
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