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Valterra Resource (TSXV:VQA,FWB:3VA) announced the closing of the first tranche of its recently announced financing for gross proceeds of $1,197,300.
Valterra issued 1,705,000 flow-through shares at a price of $0.10 per share for gross proceeds of $170,500, and issued 12,835,000 Units at a price of $0.08 per Unit for gross proceeds of $1,026,800. Each Unit consists of one non-flow-through common share and one-half share purchase warrant, with each whole warrant exercisable to purchase one additional non-flow-through common share at an exercise price of $0.12 per share for a period of two years. All securities issued in this first tranche, including common shares, share purchase warrants, and finders’ warrants issued as finders’ fees, include a legend restricting trading of the securities until March 23, 2013).
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