Business
Corridor Resources Inc. Announces Proposed Appointment of Former Raging River Management Team, Financing and Changing of Name to Headwater Exploration Inc.
Corridor Resources Inc. Announces Proposed Appointment of Former Raging River Management T...
About this update from Headwater Exploration Inc.
[{"type":"text","content":"\n\n\n\nCorridor Resources Inc. Announces Proposed Appointment of Former Raging River Management Team, Financing and Changing of Name to Headwater Exploration Inc.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Jan. 13, 2020\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW./\n CALGARY, Jan. 13, 2020 /CNW/ - Corridor Resources Inc. (\"Corridor\" or the \"Company\") (CDH: TSX) is pleased to announce it has entered into a definitive investment agreement (the \"Investment Agreement\") with Neil Roszell, Jason Jaskela, Ali Horvath, Jonathan Grimwood and Terry Danku (the \"Initial Investors\") which provides for: (i) a non-brokered private placement of units of Corridor (the \"Units\") for gross proceeds of $20.0 million (the \"Non-Brokered Private Placement\"); (ii) a brokered private placement of common shares of Corridor (\"Common Shares\") for gross proceeds of up to $30.0 million (the \"Brokered Private Placement\" and together with the Non-Brokered Private Placement, the \"Private Placements\"); (iii) the appointment of a new management team (the \"New Management Team\") and the reconstitution of the board of directors of Corridor (the \"Corridor Board\") (collectively, the \"Transaction\").  The Private Placements are being completed at $0.92 per Unit and $0.92 per Common Share representing an approximate 8% premium to the volume weighted average trading price (\"VWAP\") for the five trading days prior to the date hereof and an approximate 20% premium to the VWAP for the 20 trading days prior to the date hereof.  Following c...