A private placement worth $450,000 has been completed by Wheaton River Minerals (TSE).
Two institutional investors each subscribed for 703,125 units at 32 cents each. Each unit consists of one common share of Wheaton River and half a warrant to buy a common share. The warrants are exercisable at 35 cents per share until June 15, 1994.
Proceeds will be held in escrow pending the purchase by Wheaton River of a wholly owned subsidiary of Homestake Mining (TSE), which holds 85% of the outstanding shares of North American Metals (VSE). North American owns and operates the Golden Bear mine in northwestern British Columbia. Shares of Wheaton River recently traded in the range of 90 cents to $1.25.
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