07:23:02 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



Wilton Resources Inc
Symbol WIL
Shares Issued 29,406,923
Close 2015-02-11 C$ 0.23
Market Cap C$ 6,763,592
Recent Sedar Documents

Wilton closes $387,125 first tranche of placement

2015-02-27 17:24 ET - News Release

Mr. Richard Anderson reports

WILTON RESOURCES INC. ANNOUNCES COMPLETION OF FIRST TRANCHE OF PRIVATE PLACEMENT

Further to the press release dated Feb. 4, 2015, Wilton Resources Inc. has completed the first tranche of its previously announced non-brokered private placement.

Pursuant to the private placement, the corporation issued 1,548,500 units of the corporation at a purchase price of 25 cents per unit for gross proceeds of $387,125. Each unit consists of one common share in the capital of the corporation and one common share purchase warrant. Each warrant entitles the holder to purchase one common share for a period of 24 months from the date of issuance at an exercise price of 50 cents. If, at any time prior to the expiry of the warrants, the trading price of the common shares exceeds $1 for a period of 21 consecutive trading days, the issuer may provide notice to the holders of the warrants that the warrants will expire 21 days after the date of the notice.

The corporation paid an aggregate finder's fee of $27,098.75 to certain arm's-length finders for placing 1,548,500 units under the private placement and issued 108,395 finders' warrants equal to 7 per cent of the gross proceeds raised from applicable subscriptions in the private placement. Each finder's warrant entitles the holder to acquire one additional common share at a price of 25 cents for a period of 18 months from the closing date of the private placement.

The net proceeds of the private placement will be used by the corporation for general corporate purposes and to execute its corporate strategy by investing in or acquiring international oil and gas assets. All securities issued under the private placement will be subject to a statutory four-month hold period from the date of issue.

The second tranche of the private placement is expected to close by March 6, 2015.

We seek Safe Harbor.

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