By Devika Patel
Knoxville, Tenn., May 16 - Kalimantan Gold Corp. Ltd. said it will raise between C$400,000 and C$1 million in a non-brokered private placement of stock.
The company will sell at least 4 million common shares and up to 10 million common shares at C$0.10 per share.
Proceeds will be used to fund the company's ongoing gold and coal exploration programs in Indonesia as well as general working capital purposes.
Vancouver, B.C.-based Kalimantan is a gold exploration company.
| Issuer: | Kalimantan Gold Corp. Ltd.
|
| Issue: | Common shares
|
| Amount: | C$400,000 (minimum), C$1 million (maximum)
|
| Shares: | 4 million (minimum), 10 million
|
| Price: | C$0.10
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | May 16
|
| Stock symbol: | TSX Venture: KLG
|
| Stock price: | C$0.18 at close May 16
|
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