Wheaton River to raise $2 million

Wheaton River Minerals (TSE) is offering a private placement of 1 million special warrants at $2 each.

Each warrant will entitle the holder to acquire one unit consisting of a common share and half a purchase warrant. Each full purchase warrant (series A) will allow the holder to buy one common share in the company at $2.50 for 18 months following the closing of the private placement.

The company has agreed to issue an additional half of common share purchase warrant (series B) if a final prospectus is not issued on or before Jan. 16, 1995. Each whole series B warrant will entitle the holder to buy one common share in the company at $3 for 18 months.

The transaction will close Aug. 9 and is subject to regulatory approval.