Trade Winds Announces Second Closing Of Private Placement
Toronto, Ontario, December 18, 2007 – Trade Winds Ventures Inc. (the
“Company”) reports that it has closed the second tranche of a portion
of its previously announced private placement.
The second closing consisted of Mineralfields Group purchasing a total
of 1,666,666 flow-through units (“FT Units”) and Northern Precious
Metals Group purchasing a total of 1,700,000 FT Units at $0.30 per Unit
for gross proceeds of $1,010,000 (the “FT Closing”).
“We are very pleased to be renewing our relationship with MineralFields
Group”, said Ian Lambert. “This is Mineralfields’ sixth financing in
the growth of Trade Winds since 2003. We are also pleased that the
Northern Precious Metals Group has made their second investment in
Trade Winds in two years. We look forward to working with
MineralFields Group and Northern Precious Metals Group as we develop
our copper and gold properties in British Columbia and Ontario”.
Each FT Unit consists of one flow-through common share and one-half of
one transferable non-flow-through common share purchase warrant, with
each whole warrant entitling the holder to acquire one further common
share of the Company for a period of two years from closing at an
exercise price of $0.50. The remainder of the private placement is
expected to close in the next two or three weeks and is expected to
raise up to an additional $1.5 million on a brokered basis from the
sale of up to 6,000,000 Units and an additional $1.75 million on a
non-brokered basis from the sale of up to 7,000,000 units, all at $0.25
per unit. All securities issued on the FT Closing have a hold period
in Canada until April 12, 2008.
In addition to a cash commission of $30,000, the Company has issued
269,333 compensation warrants entitling the agents to acquire that
number of non-flow-through Units equal to 8% of the FT Units sold under
the FT Closing at $0.30 per Unit for a period of two years.
The gross proceeds from the issue of FT Units will be used for
exploration and development of the Company’s projects in British
Columbia and Ontario. The flow-through funds will constitute Canadian
exploration expenses and will be renounced for the 2007 taxation year.
About MineralFields, Pathway and First Canadian Securities ®
MineralFields Group (a division of Pathway Asset Management) is a
Toronto-based mining fund with significant assets under administration
that offers its tax-advantaged super flow-through limited partnerships
to investors throughout Canada during most of the calendar year, as
well as hard-dollar resource limited partnerships to investors
throughout the world. Pathway Asset Management also specializes in the
manufacturing and distribution of structured products and mutual funds.
Information about MineralFields Group is available at www.mineralfields.com.
First Canadian Securities ® is active in leading resource financings
(both flow-through and hard dollar) on competitive, effective and
service-friendly terms, with investors both within, and outside of,
MineralFields Group".
The Company also announces that it has granted incentive stock options
to purchase an aggregate of 1,300,000 shares of the Company's capital
stock to the Directors and employees involved in Investor Relations.
These options will have a five year term, exercisable up to December
18, 2013 at a exercise price of $0.30 per share, which price is greater
than the Discounted Market Price of the Company's shares immediately
preceding December 18, 2007.
All stock options and any shares issued on the exercise of stock
options will be legended with a four month Exchange hold period
commencing on the date the stock options were granted.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the “U.S.
Securities Act”) or any state securities laws and may not be offered or
sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ian D. Lambert, CEO/President (604) 742-2522
Terry McGee, Investor Relations Toll Free (877) 811-4518 ext 228 or (604) 742-2531
Email: info@tradewindsventures.com
Visit our Website at www.tradewindsventures.com
