Gold Corp buys into Wolfden!!
$2.75 million financing with Goldcorp as the biggest subscriber-
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Wolfden Resources completes $2.75-million financing
Wolfden Resources Inc YWO
Shares issued 24,883,058 Dec 30 2002 close $ 1.40
Monday December 30 2002 News Release
Mr. Ewan Downie reports
WOLFDEN CLOSES $2.75 MILLION FINANCING
Wolfden Resources has completed the previously announced offering of 2.75 million Class A special warrants at a price of $1.00 per Class A special warrant for gross proceeds of $2.75-million through Canaccord Capital Corp., Dundee Securities Corp., Griffiths McBurney & Partners, Haywood Securities Inc. and Jennings Capital Inc. (collectively the agents).
The largest subscriber in the financing was Goldcorp Inc. Each Class A special warrant is exercisable, for no additional consideration, to acquire one flow-through common share of Wolfden provided that a receipt is issued for a final prospectus of Wolfden which qualifies the issue of such flow-through common shares by April 29, 2003, failing which each Class A special warrant (other than Class A special warrants purchased by directors and officers of Wolfden) will be exercisable, for no additional consideration, to acquire 1.1 flow-through common shares.
The agents will receive for their services in connection with the offering a total fee of $165,000 and a total of 220,000 agents' special warrants. Each agents' special warrant is exercisable, for no additional consideration, to acquire one agents' warrant. Each agents' warrant entitles the holder thereof to purchase one common share of Wolfden at a price of $1.00 until June 30, 2004.
The special warrants issued by the corporation in connection with the offering and the securities issuable upon the exercise thereof are subject to a hold period which expires on the earlier of Dec. 31, 2003, and the date on which a decision document is issued evidencing the issue of receipts by applicable regulatory authorities for a prospectus qualifying the distribution of such securities issuable upon the exercise of such special warrants.
The proceeds from the private placement will be used primarily to finance the exploration of the Wolfden's High Lake property and for general working capital.
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