Non-brokered sale of 25 million units to fund resource definition work
By Devika Patel
Knoxville, Tenn., March 19 - Pacific Wildcat Resources Corp. said it has arranged a C$1.5 million non-brokered private placement of units.
The company will sell 25 million units of one common share and one half-share warrant at C$0.06 per unit.
Each whole warrant is exercisable at C$0.10 for one year. The strike price is a 100% premium to the March 18 closing share price of C$0.05.
Proceeds will be used for additional resource definition work, including the preparation of an inaugural National Instrument 43-101 compliant Total Rare Earth Resource at the Mrima Hill Project and advancing metallurgical work on the Mrima Hill Project, and general working capital purposes.
Pacific Wildcat is a rare earth, tantalum and niobium exploration company based in Vancouver, B.C.
| Issuer: | Pacific Wildcat Resources Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 25 million
|
| Price: | C$0.06
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | March 19
|
| Stock symbol: | TSX Venture: PAW
|
| Stock price: | C$0.05 at close March 18
|
| Market capitalization: | C$11.81 million
|
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