Non-brokered deal, at C$0.05 per unit, funds exploration
By Devika Patel
Knoxville, Tenn., March 21 - Alder Resources Ltd. said it raised C$436,750 in the initial tranche of a C$1 million non-brokered private placement of units. The deal priced Jan. 14 and was revised on Feb. 21.
The company is selling 20 million units of one common share and one half-share warrant at C$0.05 per unit. It sold 8,735,000 units in the first tranche.
Each whole warrant is exercisable at C$0.10 for two years. The strike price is a 25% premium to the Jan. 11 closing share price of C$0.08.
Settlement of the final tranche is expected April 30.
Proceeds will be used for exploration and general corporate purposes.
Alder is a Vancouver, B.C.-based resource company focused on the development of gold and base metal projects in Latin America.
| Issuer: | Alder Resources Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1 million
|
| Units: | 20 million
|
| Price: | C$0.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 14
|
| Revised: | Feb. 21
|
| Settlement dates: | March 21 (for C$436,750), April 30
|
| Stock symbol: | TSX Venture: ALR
|
| Stock price: | C$0.08 at close Jan. 11
|
| Market capitalization: | C$3.64 million
|
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