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Western Atlas Resources Announces Closing of C$3.59 million Non- Brokered Private Placement and Gran Colombia Gold Participation
Western Atlas Resources Announces Closing of C$3.59 million Non- Brokered Private Placemen...
About this update from Seasif Exploration Inc.
[{"type":"text","content":"\n\n\n\nWestern Atlas Resources Announces Closing of C$3.59 million Non- Brokered Private Placement and Gran Colombia Gold Participation\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, July 17, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n VANCOUVER,  BC, July 17, 2020 /CNW/ - Western Atlas Resources Inc. (\"Western Atlas\" or the \"Company\") (TSXV: WA), is pleased to announce the closing of its previously announced non-brokered private placement (the \"Private Placement\"), pursuant to which the Company issued 35,900,000 units at a price of C$0.10 per unit for aggregate gross proceeds of approximately $3.59 million. \n\n \n \n \n \n \n \n\n \nThe Private Placement involved the sale of both flow-through units (\"FT Units\") and non-flow- through units (\"NFT Units\"). \nThe FT Units consist of one flow-through common share and one-half (1/2) of one non flow-through common share purchase warrant, with each whole warrant exercisable for one additional common share of the Company at a price of C$0.15 per share for a period of two years from the closing of the Private Placement.\nThe NFT Units consist of one non-flow-through common share and one non-flow-through common share purchase warrant, with each whole warrant exercisable for one additional common share of the Company at a price of C$0.15 per share for a period of two years from the closing of the Private Placement.\nWestern Atlas may accelerate the expiry date of the warrants after one and a half years have elapsed from the closing of the Private Placement if the Company's common shares have a closing price on the TSX Venture Exchange (or such other exchange on which they may be traded at such time) of greater than C$0.18 per share for a period of 20 consecutive trading days, by giving notice to the warrant holders. In such event, the warrants will expire on the 30th day after the date on which such notice is given, which noti...