LEEWARD CAPITAL CORP.
ANNOUNCES
PROPOSED PRIVATE PLACEMENT
April 13, 2007: Calgary, Alberta: TSX Venture – LWC
Leeward announces that it intends to complete a non-brokered private placement financing
(“Private Placement”) of:
(i) 5,882,354 units (“FT Units”) at a price of $0.34 per FT Unit consisting of one flowthrough
common share of Leeward (“Flow-Through Shares”) and one-half of one warrant
(“Warrant”) with each whole Warrant entitling the holder thereof to purchase one
common share of Leeward (“Common Shares”) at an exercise price of $0.40 per share for
a period of 24 months after the closing of the Private Placement for gross proceeds of
$2,000,000; and
(ii) 1,666,668 units (“Units”) at a price of $0.30 per Unit consisting of one Common Share
and one-half of one Warrant, with each whole Warrant entitling the holder thereof to
purchase one Common Share at an exercise price of $0.40 per share for a period of 24
months after the closing of the Private Placement for gross proceeds of $500,000.
The exercise period of the Warrants will accelerate in the event that at any time following
January 1, 2008 the Common Shares trade for 21 consecutive trading days at a closing price of
$0.50 or greater and, following a 30-day notice period, the Warrants will expire.
Closing of the Private Placement is expected to occur on or about April 26, 2007, or such other
date as the parties may agree.
In connection with the Private Placement, Leeward will pay a Finder’s Fee equal to 5% of the
gross proceeds of the Private Placement and will grant to the finder an option to purchase up to
337,551 Common Shares at a price of $0.34 per share for a period of 24 months after the closing
of the Private Placement.
Leeward intends to use the proceeds of the Private Placement for further molybdenum
exploration activities on its Nithi Mountain Project located in British Columbia and for general
working capital.
For further information, please contact:
James W. Davis, President
Tel: (403) 265-4077 ext. 1
Fax (403) 265-6410
e-mail: president@leewardcapital.com
The TSX Venture Exchange Inc. does not accept responsibility
for the adequacy or accuracy of this release.
(Not for distribution to United States newswire services or for dissemination in the United States) |
