GREY:LEWCF - Post by User
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smokeythebanditon Jun 07, 2011 12:07pm
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Post# 18681261
Leeward completes increased offering for $250,000
Leeward completes increased offering for $250,0002011-06-06 18:12 ET - News Release
Mr. Jerry Bulman reports
LEEWARD CLOSES PRIVATE PLACEMENT
LeewardCapital Corp. has increased its previously announced private placementof units to $250,000 and has closed on the increased amount. Thecorporation completed the sale of 3,125,000 units at eight cents perunit for aggregate gross proceeds of $250,000. Each unit consists ofone common share in the capital of the corporation and one common sharepurchase warrant. Each warrant is exercisable for two years from theclosing of the offering to acquire one common share at a price of 20cents per common share. The offering is subject to final regulatoryapproval, and all securities issued in connection with the offering aresubject to a four-month-and-one-day hold period under applicablesecurities laws.
The corporation paid an arm's-length finder 10 per cent of the grossproceeds and issued 312,500 finder's units, with each unit having thesame terms as described herein.
The net proceeds from the offering will be used for general workingcapital purposes and to continue the corporation's drilling program onthe Nithi Mountain property.
We seek Safe Harbor.