Trade Winds Announces First Closing Of Private Placement
Toronto, Ontario, December 10, 2007 – Trade Winds Ventures Inc. (the
“Company”) reports that, with Octagon Capital Corporation as lead agent
(the “Agent”), it has closed the first tranche of its previously
announced private placement.
The initial closing consisted of RBC Dominion Securities Inc.
purchasing 8,000,000 non-flow-through units (“Units”) at $0.25 per Unit
for gross proceeds of $2,000,000 (the “Initial Closing”).
Each Unit consists of one non-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 $0.30. The second tranche 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 $2.75 million on a
non-brokered basis from the sale of up to 7,000,000 units with the same
attributes as Units and 3,366,667 flow-through Units at $0.30 per
flow-through unit. All securities issued on the Initial Closing have a
hold period in Canada until April 8, 2008.
In addition to a cash commission of 8% of the gross proceeds from the
Initial Closing, the Company has issued Compensation Options entitling
the Agents to acquire that number of units equal to 8% of the Units
sold under the Initial Closing at $0.25 per Unit for a period of two
years.
The net proceeds raised from the issue of the Units will be used for
exploration and development costs, property acquisition costs,
investments, and working capital.
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
