Wilton Resources Inc. is pleased to announce that it closed its previously announced non-brokered private placement of units in the capital of the Corporation ("Units") at a purchase price of $0.55 per Unit (the "Offering Price"), for total aggregate gross proceeds of $306,022 (the "Offering"). The principal use of the proceeds of the Offering will be 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 $0.65 (the "Exercise Price").
No commission, finder's fee or similar payment (whether in the form of cash, securities or an interest in assets) were paid by the Corporation in connection with the Offering.
The Common Shares and Warrants issued in connection with the Offering and the Common Shares underlying the Warrants are subject to a statutory hold period of four months plus one day from the date of completion of the Offering, in accordance with applicable securities legislation.
The TSXV provided conditional acceptance of the Offering on February 15, 2024.
