By Devika Patel
Knoxville, Tenn., June 13 - Kalimantan Gold Corp. Ltd. said it took in C$1.1 million in a non-brokered private placement of stock. The deal priced for up to C$1 million on May 16.
The company sold 11 million common shares at C$0.10 per share. It planned to sell up to 10 million shares.
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$1.1 million
|
| Shares: | 11 million
|
| Price: | C$0.10
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | May 16
|
| Settlement date: | June 13
|
| Stock symbol: | TSX Venture: KLG
|
| Stock price: | C$0.18 at close May 16
|
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