Wolfden Announces Increase to Non-Brokered Flow-Through Private Placement

Wolfden Resources (TSXV:WLF) has announced further to its press release dated May 10, 2016, it is increasing the size of the non-brokered private placement up to 3,250,000 flow-through units at a price of $0.11 per flow-through unit for gross proceeds of up to $357,500.
As quoted in the press release:

Each Flow-Through Unit will consist of one common share of the Company that is a “flow-through share” within the meaning in the Income Tax Act (Canada) and one-half of one common share purchase warrant (each whole warrant, a “Warrant“). Each such Warrant will entitle the holder to purchase one common share of the Company at a price of $0.20per common share for a period of 24 months from the closing date of the Offering. In connection with the Offering, the Company may pay finders’ fees to certain arm’s length parties in accordance with the rules of the TSX Venture Exchange (the “TSXV“) in consideration for their efforts in introducing subscribers to the Company.
The securities to be issued under this Offering will be offered by way of private placement in the provinces of British Columbia, Albertaand Ontario and such other provinces or territories of Canada as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Securities issued under the Offering will be subject to a four-month hold period which will expire four months and one day from the date of closing of the Offering.
Closing of the Offering is anticipated to occur on or before May 31, 2016. The Offering is subject to acceptance by the TSXV and other customary conditions for a transaction of this nature.

Click here for the full press release.