Business
Woodruff Capital Management Announces Private Placement Financing
Woodruff Capital Management Announces Private Placement Financing.
About this update from Copper Road Resources Inc
[{"type":"text","content":"\n\n\n\n\nTORONTO, Dec. 30 /CNW/ - Woodruff Capital Management Inc. (the \"Company\")\n(WOO, TSX-V) is pleased to announce that on December 30, 2005, the Company\ncompleted its previously announced private placement of 2,049,775 Flow-Through\nUnits at $.65 per Unit to raise $1,332,354. Each Unit consists of one Flow\nThrough Common Share and one half of one Common Share Purchase Warrant. Each\nwhole Common Share Purchase Warrant will entitle the holder to purchase one\nadditional Common Share at a price of $0.85 over the first year following the\nclosing of the private placement, and $1.15 over the second year following the\nclosing of the private placement.\nAs previously disclosed, when accepted by the Company, the Company\nprotected offers received from registered investment dealers. The Company\nprotected offers from Dundee Securities Corporation, BMO Nesbitt Burns and\nLimited Market Dealer Inc. As partial consideration for their services, these\ninvestment dealers were issued Broker Warrants entitling them to purchase an\naggregate of Common Shares at a price of $0.85 per Common Share over the first\nyear following the closing date and $1.15 per Common Share over the second\nyear following the closing date.\nThe Common Shares, Common Share Purchase Warrants and Broker Warrants are\nsubject to resale restrictions pursuant to applicable securities laws\nrequirements and notably to a hold period of four months plus one day from the\nclosing date.\nThe proceeds of the Offering will be used to fund the Company's 2006\nexploration program and for general corporate purposes.\nThe Company now has 19,633,103 common shares issued and outstanding.\nThe Company focuses on base metal exploration in accessible areas of\nQuebec, Ontario, and Newfoundland.\n\nOn Behalf of the Board of Directors\nMark Goodman\nChairman of the Board\n\n-------------------------------------------------------------------------\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release.\n\n-------------------------------------------------------------------------\n\n%SEDAR: 00020132E\n\n\n","length":2188,"tagName":"div"}]