Tradewinds Announces Closing Of Private Placements
Vancouver, BC, February 19, 2008– Trade Winds Ventures (TSX-V: TWD,
FSE: TVR) reports that it has closed the third and final tranche of its
previously announced private placement, first announced on December 7,
2007.
The third closing consisted of 996,000 units at a price of $0.25 per
Unit for an aggregate proceeds of $249,000. Each Unit consists of one
common share and one-half of one transferable share purchase warrant.
Each whole warrant entitles the holder to acquire one additional common
share of the Company for a period of two years from the date of closing
at a price of $0.30. The securities issued under the private placement
are subject to a four month hold period.
The Company also announces it has completed the first tranche of a
second private placement of up to 6,000,000 units at a price of $0.25
per Unit. Each Unit consists of one common share and one-half of one
transferable share purchase warrant. Each whole warrant entitles the
holder to acquire one additional common share of the Company for a
period of two years from the date of closing at a price of $0.30.
The first tranche consisted of 4,640,000 Units for aggregate proceeds
of $1,160,000. IBK Capital Corp. (the "Agent') received a cash
commission of $67,000 and Compensation Warrants entitling the Agent to
purchase 368,000 common shares of the Company at a price of $0.25 for a
period of two years from the date of issue in connection with a portion
of the first tranche closing. All of the securities issued under the
private placement are subject to a four month hold period.
The net proceeds from the above financings 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) 628-1974
Colin Robson, Investor Relations Toll Free (866) 698-9187
Email: info@tradewindsventures.com
Visit our Website at www.tradewindsventures.com
