By Devika Patel
Knoxville, Tenn., June 11 - Kaminak Gold Corp. said it plans a non-brokered C$1 million private placement of units.
The company will sell 2,222,222 units of one common share and one warrant at C$0.45 apiece. The two-year warrants are exercisable at C$0.55 for the first year and at C$0.70 thereafter.
Proceeds will be used to accelerate the company's White Gold and Thunder Bay work programs and allow it to pursue new project acquisitions.
Vancouver, B.C.-based Kaminak is a gold, uranium and nickel exploration company.
| Issuer: | Kaminak Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 2,222,222
|
| Price: | C$0.45
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.55 in the first year, C$0.70 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | June 11
|
| Stock symbol: | TSX Venture: KAM
|
| Stock price: | C$0.45 at close June 10
|
| Market capitalization: | C$16.8 million
|
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