Business
SELWYN ANNOUNCES EQUITY FINANCING OF UP TO $15 MILLION FOR SCOTIA MINE ACQUISITION
Mar. 31, 2011 (Canada NewsWire Group) -- /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SER...
About this update from Edm Resources Inc
[{"type":"text","content":"\n\n\n Mar. 31, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\nVANCOUVER, March 31 /CNW/ - Selwyn Resources Ltd (TSXV: SWN) ("Selwyn") today announced that it has entered into an\n agreement with Paradigm Capital Inc. to act as lead agent on behalf of\n a syndicate including Canaccord Genuity Corp. (collectively, the\n "Agents") to undertake a best efforts private placement financing of up\n to 50,000,000 subscription receipts (the "Subscription Receipts") at a\n price of $0.30 to raise gross proceeds of up to $15 million (the\n "Offering"). Selwyn has granted to the Agents an option to sell up to\n an additional 15% of the Subscription Receipts for additional gross\n proceeds of $2.5 million (the "Agents' Option").\n\n\nEach Subscription Receipt will be convertible for no additional\n consideration into one common share of Selwyn (a "Common Share") and\n one-half of one Common Share purchase warrant upon satisfaction of\n certain release conditions (the "Release Conditions"). Each whole\n warrant will entitle the holder thereof to purchase one Common Share at\n a price of $0.40 per common share and will be exercisable for a period\n of 24 months after the closing date of the Offering.\n\n\nThe proceeds from the Offering will be used for the purchase\n consideration payable by Selwyn in connection with th...