Non-brokered PP - not Flow Through
posted on
Jun 23, 2009 07:58PM
The company is now known as FUSE Cobalt.
This news release relates to a small placement that was done for some who did not want flow-through shares (as offered in the main PP a little while ago). My information is that this one is filled already.
Breaking News
16:37 EDT Tuesday, June 23, 2009
WINNIPEG, MANITOBA--(Marketwire - June 23, 2009) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce that, subject to final regulatory approval, it intends to close a non-brokered private placement of Units to raise gross proceeds of $150,000. Each Unit, to be issued at a price of $0.05, consists of one common share and one share purchase warrant entitling the holder to acquire an additional common share of the Company at a price of $0.15 per share during the 12 month period following closing. Pursuant to the private placement, 3,000,000 Units will be issued on closing.
The proceeds of the private placement transaction will be used for general corporate purposes in support of the Company's exploration projects including its gold projects in the Rice Lake greenstone belt, near Bissett, Manitoba, the Reed Lake base metal and platinum group elements project in the Flin Flon-Snow Lake greenstone belt of Manitoba, and its Foster River zinc lead silver project in Saskatchewan.
The Company will pay cash finders' fees of up to 5% of the gross proceeds raised from the sale of Units and will issue finders' warrants to purchase common shares on terms identical to those of the warrants contained in the Units, in an amount that is up to 5% of the number of Units sold.
All securities distributed pursuant to the private placement are subject to a hold period of four months following closing.