Skip to main content

PLEASE NOTE: For everyone’s safety, Fasken recommends anyone on-site at our Canadian offices be familiar with the COVID-19 recommendations in place which may include one or more of the following: social distancing, hand sanitizing, wearing a mask in common areas and proof of full vaccination. These measures apply to lawyers, staff, clients, service providers and other visitors.

Client Work

Trade Winds Ventures completes private placement for US$3.8 million

Reading Time 1 minute read Subscribe



Confidential Clients

On October 20, 2006, Trade Winds Ventures Inc. reported that, with its syndicate of agents led by Octagon Capital Corporation and including Pacific International Securities Inc., it had closed the second and final tranche of its previously announced private placement for total gross proceeds of $3,832,000. The initial closing consisted of 4,500,000 flow through shares ("FT Shares") at $0.50 per FT Share and 2,081,000 non-flow-through units at $0.40 per Unit for gross proceeds of $3,082,000. The second closing consisted of 1,500,000 flow through shares at $0.50 per FT Share for gross proceeds of $750,000. The gross proceeds from the issue of FT Shares will be used for exploration and development of the Company's Detour Lake and Birch Lake gold properties in Ontario and Treasure Mountain copper property in British Columbia. The flow-through funds will constitute Canadian exploration expenses and will be renounced for the 2006 taxation year. The net proceeds raised from the issue of Units will be used for exploration and development costs, property acquisition costs, investments, and working capital. Fasken Martineau advised the syndicate of agents with a team that included Chuck Higgins, Krisztian Toth and Bill Bies.



    Receive email updates from our team