By Susanna Moon
Chicago, July 16 - Western Warrior Resources Inc. said it secured a private placement of up to C$1.5 million of units.
The company plans to issue up to 6 million units at C$0.25 each. Each unit consists of one share and one half-share warrant with each whole warrant exercisable at C$0.35 each for one year.
The warrant expiry may be accelerated if the shares close above C$0.45 on a volume-weighted average for any 10-trading day period for one year.
The securities are subject to a four-month holding period.
Western Warrior is a Calgary, Alta.-based mineral exploration company.
| Issuer: | Western Warrior Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 6 million
|
| Price: | C$0.25
|
| Warrants: | One half-share per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.35
|
| Announcement date: | July 16
|
| Stock symbol: | TSX Venture: WWR
|
| Stock price: | C$0.30 at close July 13
|
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