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Leeward Capital Corp. (TSX:LWC) announced a non-brokered private placement to raise up to an aggregate $250,000 from the issuance of Flow-through Units, for aggregate maximum gross proceeds of $500,000.
Leeward Capital Corp. (TSX:LWC) announced a non-brokered private placement to raise up to an aggregate $250,000 from the issuance of Flow-through Units, for aggregate maximum gross proceeds of $500,000.
As quoted in the press release:
Units: Each unit will be issued at a price of $0.05 and will be comprised of one common share and one (1) non-transferable share purchase warrant entitling the holder to purchase one (1) common share at a price of $0.10 per share for a period of 24 months after closing. Up to 5,000,000 Units may be issued under the private placement for maximum proceeds of $250,000. Net proceeds from the issuance of Units will be utilized by Leeward for general working capital purposes.
Flow-through Units: Each Flow-through Unit will be issued at a price of $0.05 and will be comprised of one “flow-through” common share and one (1) non-transferable share purchase warrant entitling the holder to purchase one (1) common share at a price of $0.10 per share for a period of 24 months after closing. Up to 5,000,000 Flow-through Units may be issued under the private placement for maximum proceeds of $250,000. Net proceeds from the issuance of Flow-through Units will be utilized by Leeward for exploration and resource calculations on its Nithi Molybdenum deposit in British Columbia.
The common share purchase warrants to be issued as part of the Units and the Flow-through Units are subject to an accelerated expiry if the published closing trade price of the common shares on the TSX Venture Exchange is greater than or equal to $0.15 for any 10 consecutive trading days, in which event the holder will be given notice that the warrants will expire 30 days following the date of such notice. The common share purchase warrants may be exercised by the holder during the 30 day period between the notice and the expiration of the common share purchase warrants.
Click here to read the Leeward Capital (TSX:LWC) press release
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