WLOC.............. news basically a negative(short term) for investors....imo taking on more debt, with (apparantly) no current income or assets..... possibly some dilution(current market price allowing for a "small" discount?)
LAS VEGAS, NV--(Marketwire - 01/11/11) - Willow Creek Enterprises Inc. (OTC.BB:WLOC - News) ("The Company"; "Willow Creek") announced today that it has agreed to terms for an equity financing in the amount of Two Hundred Fifty Thousand Dollars ($250,000).
The funds will be used to expand the exploration programs at the Hercules and Dolly Varden projects and for operating capital. The financing will be done with terms consistent with the current market price allowing for a small discount.
"With the announcement of our forward stock split, we have received overwhelming support from the investment community. The current financing, in conjunction with the financing in December, will allow the company the flexibility to expedite exploration and development programs and continue to search for, review and acquire new properties of interest. This secondary capital raise follows management's objective and strategic expansion model which calls for funding to be completed in stages more suited to organic growth. I feel that the recent financings set the foundation for Willow Creek to achieve significant project success in the immediate future. These funds are only the starting point for our financing as we build towards creating stronger bonds within the investment community, specifically with institutional investors. Upon completion of our National Instrument 43-101 we will have a clearer view of what is required for the first stage of our drilling program and we are confident that with the recent financings we will be well positioned to carry out the initial stages," stated Terry Fields, President, Willow Creek.
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