Proceeds used for exploration and development of Coffee Gold Project
By Devika Patel
Knoxville, Tenn., Feb. 18 – Kaminak Gold Corp. said it will conduct a C$21 million private placement of stock through a syndicate of underwriters co-led by Cormark Securities Inc. and Raymond James Ltd.
The company will sell 12,223,000 common shares at C$0.90 per share with a 15% greenshoe and 8,696,000 flow-through common shares at C$1.15 per share on a bought-deal basis. The prices per share are an 8.16% discount and a 17.35% premium to C$0.98, the Feb. 17 closing share price.
Settlement is expected March 11.
Proceeds will be used for exploration and development of the Coffee Gold Project and general corporate and working capital purposes.
Vancouver, B.C.-based Kaminak is a gold, uranium and nickel exploration company.
| Issuer: | Kaminak Gold Corp.
|
| Issue: | Common stock, flow-through common stock
|
| Amount: | C$21,001,100
|
| Underwriters: | Cormark Securities Inc. and Raymond James Ltd. (co-leads)
|
| Warrants: | No
|
| Pricing date: | Feb. 18
|
| Settlement date: | March 11
|
| Stock symbol: | TSX Venture: KAM
|
| Stock price: | C$0.98 at close Feb. 17
|
| Market capitalization: | C$87.92 million
|
|
|
| Common stock
|
| Amount: | C$11,000,700
|
| Greenshoe: | 15%
|
| Shares: | 12,223,000
|
| Price: | C$0.90
|
|
|
| Flow-through stock
|
| Amount: | C$10,000,400
|
| Shares: | 8,696,000
|
| Price: | C$1.15
|
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