Pacific Wildcat Resources Corp
Symbol C : PAW
Shares Issued 86,478,869
Close 2011-01-21 C$ 1.07
Recent Sedar Documents
View Original Document
Pacific Wildcat Resources completes $900,000 placement
2011-01-24 12:22 ET - News Release
Mr. Darren Townsend reports
PACIFIC WILDCAT RESOURCES CORP.: CLOSING OF NON BROKERED PRIVATE PLACEMENT
Pacific Wildcat Resources Corp.has closed the non-brokered private placement as previously announced in Stockwatch on Jan. 11, 2011.
The non-brokered private placement consisted of the issuance of one million units to a high-net-worth individual at arm's length to the company at a purchase price of 90 cents per unit for gross proceeds to the company of $900,000. Each unit comprises one common share and one-half of a non-transferable common share purchase warrant. Each full warrant entitles the holder to purchase one common share at a purchase price of $1.10 per share, at any time until July 21, 2012.
The net proceeds of the private placement will be used to purchase further capital equipment for the company's Muiane Tantalum project in Mozambique and for working capital to facilitate the initial closing of the Mrima Hill rare earth and niobium project pursuant to the conditional share purchase agreement, as previously announced.
In accordance with Canadian securities legislation currently in effect, all securities issued pursuant to the private placement will have a restricted hold period in Canada expiring on May 22, 2011.
PAW's president, Darren Townsend, commented, "These funds will assist the company with its near-term objective of commencing tantalum production at Muiane in Mozambique and for funds to facilitate the initial closing of the Mrima Hill rare earth and niobium project pursuant to the conditional purchase agreement."
|
