Windarra Minerals Ltd. Closes Private Placement
24.05.2013 | vom Unternehmen
VANCOUVER, May 24, 2013: Windarra Minerals Ltd. (the “Company”) (TSX.V:WRA) reports that it has completed the non-brokered private placement announced May 2, 2013. The Company has sold a total of 3,300,000 units (the “Units”) at a price of $0.035 per Unit for gross proceeds of $115,500. Each Unit consists of one common share and one share purchase warrant, with each warrant entitling the holder there of to purchase one additional common share of the Company for a period of 5 years, at a price of $0.05 during the first year and at $0.10 for the remaining four years.The private placement was approved by the Company’s board of directors, excluding those directors who have a direct interest in the private placement. Of the proceeds, approximately $70,000 will be allocated towards settlement of current liabilities, including $12,700 payable to a company owned by a Director of the Company, and $19,800 payable to Officers of the Company. The balance will be utilized for future working capital.
All securities issued in connection with the financing are subject to a four month and one day hold period expiring September 25, 2013.
On Behalf of the Board, Windarra Minerals Ltd.
“John Pallot”
John Pallot, President, Director
For further information, please contact:
Windarra Minerals Ltd.
John Pallot, President
300–1055 West Hastings Street, Vancouver, BC, V6E2E9
Tel: (604) 688-1508, Fax: (604) 629-7971
Email: info@windarra.com
Website: www.windarra.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release required by applicable Canadian laws, is not for distribution to U.S. news wire services or for dissemination in the United States, and does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES