By Devika Patel
Knoxville, Tenn., Jan. 13 - West Timmins Mining Inc. said it will raise C$2 million in a private placement of units.
The company will sell 4 million units of one common share and one half-share warrant at C$0.50 apiece. Each whole warrant will be exercisable at C$0.65 for 18 months.
Canaccord Capital Corp. is the agent. Canaccord has a greenshoe for C$1 million, or 2 million units.
Settlement is expected Jan. 30.
Proceeds will be used for exploration of mineral properties and general working capital purposes.
West Timmins is a gold exploration and mining company based in Vancouver, B.C.
| Issuer: | West Timmins Mining Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Greenshoe: | C$1 million
|
| Units: | 4 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.65
|
| Agent: | Canaccord Capital Corp.
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 30
|
| Stock symbol: | Toronto: WTM
|
| Stock price: | C$0.52 at close Jan. 12
|
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