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Wilton Resources Inc. Announces Increase in Offering Size of Private Placement Financing
Calgary, Alberta--(Newsfile Corp. - January 16, 2023) - Wilton Resources Inc. (TSXV: WIL) (t...
About this update from Wilton Resources Inc.
[{"type":"text","content":"Wilton Resources Inc. Announces Increase in Offering Size of Private Placement FinancingCalgary, Alberta--(Newsfile Corp. - January 16, 2023) - Wilton Resources Inc. (TSXV: WIL) (the \"Corporation\") is pleased to announce that it has increased its non-brokered private placement of units of the Corporation (\"Units\") at a purchase price of $0.75 per Unit (the \"Offering Price\") as previously announced on December 15, 2022, such that the Corporation now intends to issue 1,027,667 Units for aggregate gross proceeds of $770,750.25 (the \"Offering\"). The principal use of the proceeds of the Offering will be for general corporate purposes and as a reserve to pursue a potential acquisition of an international oil and gas property.Each Unit is comprised of one common share in the capital of the Corporation (\"Common Share\") and one Common Share purchase warrant (\"Warrant\"). Each Warrant will entitles the holder to purchase one Common Share on or before the date that is 24 months from closing of the Offering (\"Closing\") at an exercise price of $1.00 (the \"Exercise Price\"). In connection with the Offering, the Corporation intends to pay finders fees to: (i) Haywood Securities Inc. (\"Haywood\") consisting of a cash payment equal to 7.0% of the aggregate proceeds raised from the sale of Units to subscribers introduced to the Corporation by Haywood and the issuance to Haywood 18,690 non-transferable warrants (\"Finder Warrants\"); and (ii) Griffin Reinhart (\"Reinhart\") consisting of a cash payment equal to 7.0% of the aggregate proceeds raised from the sale of Units to subscribers introduced to the Corporation by Reinhart and the issuance to Reinhart 8,540 Finder Warrants. Each Finder Warrant will entitle the holder thereof to acquire one Common Share on or before the date that is 24 months from Closing at the Exercise Price. Closing is expected to occur shortly and is subject to certain customary conditions, including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. For more information concerning the Corporation, please refer to the Corporation's profile on the SEDAR website at www.sedar.com.Forward-Looking InformationCertain statements contained in this press release constitute forward-looking information. These statements relate to future events or future perfor...