Wolfden has just announced a financing- sure is quiet on this thread! Guess everyone is over at Stockhouse.
-------------
FINANCING NEWS:
-----------
Wolfden arranges financing to raise up to $924,000
Wolfden Resources Inc YWO
Shares issued 15,112,171 Mar 12 2002 close $.460
Wednesday Mar 13 2002 News Release
Mr. Ewan Downie reports
WOLFDEN TO COMPLETE PRIVATE PLACEMENT
Wolfden Resources has engaged Canaccord Capital Corporation and Dundee Securities Corporation (collectively the agents) to act as agents for a private placement of special warrants of Wolfden to raise proceeds of up to $924,000. The private placement is subject to the receipt of all required regulatory approvals.
Wolfden will issue up to 2.4 million special warrants. The special warrants will be issued in two classes. The first class of special warrants, class A special warrants, will be issued at a price of 42 cents per class A special warrant and will entitle the holder thereof to acquire, for no additional consideration, one flow-through common share of Wolfden. The second class of special warrants, class B special warrants, will be issued at a price of 35 cents per class B special warrant and will entitle the holder thereof to acquire, for no additional consideration, one common share of Wolfden and one-half of one warrant. Each whole warrant will be exercisable for one common share of Wolfden at a price of 55 cents per common share for a period of 24 months from the date of closing of the private placement.
The agents will receive for their services a fee paid in class B special warrants equal in the total to 10 per cent of the special warrants sold under the private placement.
The special warrants are exercisable by the holders thereof at any time and will be automatically exercised at 5 p.m. (Toronto time) on the earlier of (i) the fifth day after the date of issue by the applicable securities regulatory authorities of receipts for a prospectus qualifying the securities to be issued upon the exercise of the special warrants and (ii) the date which is 12 months from the date of closing of the private placement. In the event receipts for the prospectus have not been issued on or before the date which is 150 days after the date of closing of the private placement, each class A special warrant will entitle the holder thereof to acquire, for no additional consideration, 1.1 flow-through common shares of Wolfden and each class B special warrant will entitle the holder thereof to acquire, for no additional consideration, 1.1 common shares of Wolfden and 0.55 of a warrant.
The proceeds from the private placement will be used to finance the exploration of the High Lake property of Wolfden and for general working capital.
WARNING: The company relies upon litigation protection for "forward-looking" statements. |
