By Laura Lutz
Des Moines, Aug. 17 - Kalimantan Gold Corp. settled a private placement for C$2,654,178, a slight increase over the C$2.62 million size previously announced.
The company sold 13,270,890 units for C$0.20 apiece. Each unit consisted of one share and one warrant with each warrant exercisable at C$0.30 for two years.
The non-brokered deal priced July 4 as a C$2.5 million offering of 12.5 million units. On July 25, the company upped the deal to 13.1 million units because it was oversubscribed.
The company will use the proceeds for a drill program at the Jelai Mewet gold prospect and for working capital.
Vancouver, B.C.-based Kalimantan is a gold exploration company.
| Issuer: | Kalimantan Gold Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2,654,178
|
| Units: | 13,270,890
|
| Price: | C$0.20
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Placement agent: | Non-brokered
|
| Pricing date: | July 4
|
| Upsized | : | July 25
|
| Settlement date: | Aug. 17
|
| Stock symbol: | TSX Venture: KLG
|
| Stock price: | C$0.23 at close July 4
|
| Stock price: | C$0.27 at close July 25
|
| Stock price: | C$0.30 at close Aug. 17
|
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