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Wilton Resources Inc. Announces Closing of Private Placement Financing

24.05.2024 | 0:43 Uhr | Newsfile

Calgary, May 23, 2024 - Wilton Resources Inc. (TSXV: WIL) (the "Corporation") is pleased to announce that it has closed its previously announced non-brokered private placement of units in the capital of the Corporation ("Units") at a purchase price of $0.60 per Unit, for aggregate gross proceeds of $500,000 (the "Offering"). The principal use of the proceeds of the Offering is for general corporate purposes and as a reserve to pursue the 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 entitles the holder to purchase one Common Share for a period of 12 months following the closing date of the Offering at an exercise price of $0.70.

The Corporation paid a finder's fee to 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 7.0% of the aggregate Units issued to subscribers introduced to the Corporation by Haywood in non-transferable warrants ("Finder Warrants"), being 38,475 Finder's Warrants. Each Finder Warrant is exercisable and will entitle the holder thereof to acquire one Common Share for a period of 12 months from the date of issuance at an exercise price of $0.70.

The Common Shares and Warrants issued in connection with the Offering and the Common Shares underlying the Warrants will be subject to a statutory hold period of four months plus one day from the date of completion of the Offering, being September 24, 2024 , in accordance with applicable securities legislation.

For more information concerning the Corporation, please refer to the Corporation's profile on the SEDAR+ website at www.sedarplus.ca.

Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "intend", "may", "will", "expect", and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information with respect to the principal uses of the proceeds of the Offering. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The material facts and assumptions include the intended use of proceeds remaining in the best interests of the Corporation. The Corporation cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward- looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

For more information, please contact:

Wilton Resources Inc.

Richard Anderson
Chief Executive Officer and President
(403) 619-6609

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of the content of this release.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.

THE SECURITIES OFFERED HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS. THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210354


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