New Issue: Kakanda Resources wraps C$3 million private placement of units, shares

By Devika Patel

Knoxville, Tenn., Nov. 9 - Kakanda Resources Corp. announced that it has raised C$3 million in a private placement of units and stock.

The company sold 4 million flow-through shares at C$0.25 per share for C$1 million and 6,666,667 units at C$0.30 apiece for C$2 million. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.40 for two years.

Based in Vancouver, B.C., Kakanda is an energy company.

Issuer:	Kakanda Resources Corp.
Issue:	Units of one common share and one half-share warrant; flow-through shares
Amount:	C$3 million
Settlement date:	Nov. 9
Stock symbol:	TSX Venture: KRC
Stock price:	C$0.39 at close Nov. 8
Units
Amount:	C$2 million
Units:	6,666,667
Price:	C$0.30
Warrants:	One half-share warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.40
Flow-through shares
Amount:	C$1 million
Shares:	4 million
Price:	C$0.25
Warrants:	No

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