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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Wilton Resources Inc | TSXV:WIL | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.02 | -2.33% | 0.84 | 0.82 | 0.86 | 0.84 | 0.82 | 0.82 | 16,900 | 21:00:14 |
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. Wilton Resources Inc. ("Wilton" or the "Corporation") (TSX VENTURE:WIL) is pleased to announce that it is proposing to issue, by way of private placement (the "Private Placement") up to 400,000 Units ("Units") of the Corporation at a purchase price of $1.00 per Unit for gross proceeds of up to $400,000, subject to regulatory approval. Each Unit will be comprised of one common share in the capital of the Corporation ("Common Share") and one common share purchase warrant ("Warrant"). Each Warrant will be exercisable for one Common Share for 24 months from the date of issuance at an exercise price of $1.25 per Common Share. If at any time prior to the expiry of the Warrants the trading price of the Common Shares exceeds $1.25 for a period of 20 consecutive trading days, the Issuer may provide notice to the holders of the Warrants that the Warrants will expire 20 days after the date of the notice. The net proceeds of the Private Placement will be used by the Corporation to fund its general corporate purposes and its corporate strategy of investing in and acquiring large international oil and gas assets. The Units will be sold on a private placement basis and will be subject to a hold period of four months plus one day from the date of issue. In connection with the Private Placement, the Corporation may pay a finder's fee of 3% on all or part of the aggregate gross proceeds received. Closing of the Private Placement is expected to occur on or about December 15, 2012 and is subject to regulatory approval. Additional information regarding Wilton Resources Inc. is available on www.sedar.com. 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 "could", "intend", "expect", "believe", "will", "projected", "estimated" 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 Corporation's use of net proceeds from the Private Placement. 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 factors and assumptions include obtaining approval of the TSX Venture Exchange of the proposed Private Placement and 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 FURTHER INFORMATION PLEASE CONTACT: Wilton Resources Inc. Richard G. Anderson President and Chief Executive Officer (403) 619-6609
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