By Devika Patel
Knoxville, Tenn., March 31 - Trade Winds Ventures Inc. said it settled a C$3.3 million private placement of units. The deal priced for C$2 million on March 3 and was increased to C$3 million with a C$300,000 greenshoe on March 8.
The company sold 22 million units of one common share and a half-share warrant at C$0.15 per unit. Of the units, 2 million were part of the fully exercised greenshoe. Each whole warrant is exercisable at C$0.20 for one year.
M Partners Inc. was the agent.
Proceeds will be used for exploration of the 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$3.3 million, including C$300,000 exercised greenshoe
|
Units: | 22 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
|
Settlement date: | March 31
|
Stock symbol: | TSX Venture: TWD
|
Stock price: | C$0.19 at close March 2
|
Market capitalization: | C$17.5 million
|
© 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.