By Sheri Kasprzak
Atlanta, June 30 - Ventir Challenge Enterprises Ltd. said it plans to raise C$2 million in a private placement as part of its five-to-one share consolidation plan.
The offering includes 40 million units at C$0.05 each.
The units are comprised of one share and one warrant. The warrants allow for the purchase of an additional share at C$0.10 each for two years. Some of the shares will be issued on a flow-through basis.
On Thursday, Ventir said it will proceed with a five-to-one consolidation of its share capital and will also be changing its name to Whistler Gold Corp.
The proceeds will be used to eliminate Ventir's working capital deficiency ahead of the consolidation.
The company also said it has an option to acquire 70% interest in the Cranberry Creek claims in the British Columbia.
Based in Vancouver, B.C., Ventir is a gold and mineral exploration company.
| Issuer: | Ventir Challenge Enterprises Ltd.
|
| Issue: | Units of one share and one warrant
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| Amount: | C$2 million
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| Units: | 40 million
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| Price: | C$0.05
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.05
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| Pricing date: | June 29
|
| Stock price: | C$0.01 at close June 29
|
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