By Laura Lutz
Des Moines, May 15 - Knight Resources Ltd. upsized its previously announced private placement of units to C$2,639,919 from C$1.2 million.
The company now plans to sell a total of 8,799,730 units.
The units will consist of a combination of flow-through units and non flow-through units.
Each flow-through unit will consist of one flow-through share and one non flow-through warrant. Each non flow-through unit will consist of one non flow-through share and one non flow-through warrant.
Both types of units will be priced at C$0.30 apiece.
Each warrant will be exercisable for two years, at C$0.40 in the first year and at C$0.60 in the second year.
Proceeds will be used for exploration and working capital.
Knight is a resource exploration company based in Vancouver, B.C.
| Issuer: | Knight Resources Ltd.
|
| Issue: | Units of one flow-through share and one non flow-through warrant; units of one non flow-through share and one non flow-through warrant
|
| Amount: | C$2,639,919
|
| Units: | 8,799,730
|
| Price: | C$0.30
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40 in the first year; C$0.60 in the second year
|
| Pricing date: | April 10
|
| Upsized: | May 15
|
| Stock symbol: | TSX Venture: KNP
|
| Stock price: | C$0.285 at close April 10
|
| Stock price: | C$0.30 at close May 15
|
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