Non-brokered offering sells 16.9 million units to Ross Beaty and Zebra
By Devika Patel
Knoxville, Tenn., July 14 – Kaminak Gold Corp. said it negotiated a C$13.52 million non-brokered private placement of units with Ross Beaty and Zebra Holdings and Investments Sarl, Luxembourg, each of which will invest C$6.76 million.
The company will sell 16.9 million units of one common share and one half-share warrant at C$0.80 per unit. Each investor will buy 8.45 million units.
Each whole, one-year warrant will be exercisable at C$1.20, which is a 51.9% premium to the July 11 closing share price of C$0.79.
Proceeds will be used for exploration and development of Kaminak's Coffee Gold Project in Yukon.
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 half-share warrant
|
| Amount: | C$13.52 million
|
| Units: | 16.9 million
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.20
|
| Agent: | Non-brokered
|
| Investors: | Ross Beaty (for C$6.76 million) and Zebra Holdings and Investments Sarl, Luxembourg (for C$6.76 million)
|
| Pricing date: | July 14
|
| Stock symbol: | TSX Venture: KAM
|
| Stock price: | C$0.79 at close July 11
|
| Market capitalization: | C$85.17 million
|
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