Alder Resources Ltd: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Alder Resources Ltd Announces Increase To Private Placement Financing
Alder Resources Ltd announced that due to demand from institutional investors it intends to increase the size of its previously announced non-brokered private placement financing (see the press release issued by Alder on January 11, 2012) from $3,000,000 to $3,250,000. The non-brokered private placement will now consist of up to 30,000,000 units at a price of $0.10 per Unit and 1,904,038 Units at a price of $0.1313 per Unit for aggregate gross proceeds of up to $3,250,000. Each Unit will be comprised of one common share of the Company and one-half of one share purchase warrant. Each whole Warrant will entitle the holder thereof to acquire one common share of the Company at an exercise price of $0.20 per common share for a period of 24 months following the closing date of the Offering. If at any time after four months and one day from the closing of the Offering, the shares of the Company trade at $0.40 per share or higher for a period of 30 days, the Company will have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise this acceleration right. The Closing Date of the Offering is scheduled on or about February 1, 2012. All securities issued will be subject to a hold period of four months and one day. The gross proceeds of the Offering will be used to fund exploration activities of the Company and for general corporate purposes.
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