Post by
frankthetank1 on Mar 04, 2008 6:08pm
Wawa snippet from Financials
This comes from the section called "Capital Stock and Contributed Surplus". Information about the production is on the joint venture property with Hochschild mining The Morris Project (check it out at their website).
"In March 2006, the Company issued 14,533,333 units at a price of $0.15 per unit for proceeds of $2,180,000 consisting of one common share and one half of one share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at $0.20 for a period of two years. The Company paid finders fees of $210,500 and granted agents warrants to acquire 1,403,333 units valued at $176,529, exercisable at $0.15 per agent warrant until March 9, 2008 into one unit identical to the placement units. The fair value of these agent warrants was estimated using the Black-Scholes Option Pricing Model with the following assumptions: risk-free interest rate of 3.92%; dividend yield 0%; volatility of 110%; and expected life of 2 years. Other share issuance costs amounted to $291,114."
In August 2006, the Company issued 509,090 common shares at a price of $0.22 per share to a company related to MHM pursuant to the agreement referred to in Note 4(b), for proceeds of $112,000 (US$100,000). Issuance costs amounted to $913.
Comment by
wawawa15 on Mar 05, 2008 11:44am
Correct-me please the way i understand EXM want to become a sort of royalty by actually owing part of the resource's.Thank you to Frank and Big.for the info.