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Wolfden announces increase to non-brokered flow-through private placement of up to $1.606 million
THUNDER BAY, ON , Dec. 1, 2014 /CNW/ -  Wolfden Resources Corporation (WLF:TSX-V) (...
About this update from Wolfden Resources Corp.
[{"type":"text","content":"\n\nTHUNDER BAY, ON, Dec. 1, 2014 /CNW/ - Wolfden Resources Corporation (WLF:TSX-V) (\"Wolfden\" or the \"Company\") is pleased to announce that further to its press release of November 27th, 2014, due to increased interest, it is increasing the size of the non-brokered private placement (the \"Offering\") to up to 7,300,000 flow-through units (the \"Flow-Through Units\") at a price of $0.22 per Flow-Through Unit for gross proceeds of up to $1.606 million. Each Flow-Through Unit will consist of one common share of the Company that is a \"flow through share\" within the meaning in the Income Tax Act (Canada) and one-half of one common share purchase warrant (each whole warrant a \"Warrant\"). Each such Warrant will entitle the holder to purchase one common share of the Company at a price of $0.30 per common share for a period of 24 months from the closing date of the Offering. The Company may, in its sole discretion, increase the size of the Offering by up to 20% for up to an additional 1.46 million Flow-Through Units. In connection with the Offering, the Company may pay finders' fees to certain arm's length parties in accordance with the rules of the TSX Venture Exchange (the \"TSXV\") in consideration for their efforts in introducing subscribers to the Company.\n\nThe securities to be issued under this Offering will be offered by way of private placement in the provinces of British Columbia, Alberta and Ontario and such other provinces or territories of Canada as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Securities issued under the Offering will be subject to a four-month hold period which will expire four months and one day from the date of closing of the Offering. \n\nClosing of the Offering is anticipated to occur on or before December 19th, 2014. The Offering is subject to acceptance by the TSXV and other customary conditions for a transaction of this nature. \n\nThe proceeds from the Offering will be used for exploration activities on the Company's Canadian mineral exploration projects.\n\nThis press release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements about use of proceeds of the Offering and ...