By Sheri Kasprzak
New York, Feb. 13 - Kaminak Gold Corp. said it intends to raise up to C$2.1 million in a private placement.
The company plans to sell up to 2 million flow-through units at C$0.55 each and up to 2 million non flow-through units at C$0.50 each.
The flow-through units consist of one share and one half-share warrant. The whole warrants allow for the purchase of a non flow-through share at C$0.70 each for two years.
The non flow-through units consist of one share and one warrant. The warrants are exercisable at C$0.60 each for two years.
Canaccord Capital Corp. is the placement agent.
Proceeds from the flow-through units will be used for exploration on the company's Canadian properties. Proceeds from the non flow-through units will be used for general corporate purposes.
Vancouver, B.C.-based Kaminak is a gold, uranium and nickel exploration company.
| Issuer: | Kaminak Gold Corp.
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| Issue: | Flow-through units of one share and one half-share warrant and non flow-through units of one share and one warrant
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| Amount: | C$2.1 million (maximum)
|
| Placement agent: | Canaccord Capital Corp.
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| Pricing date: | Feb. 13
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| Stock symbol: | TSX Venture: KAM
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| Stock price: | C$0.55 at close Feb. 13
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|
|
| Flow-through units
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| Units: | 2 million (maximum)
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| Price: | C$0.55
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.70
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| Non flow-through units
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| Units: | 2 million (maximum)
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| Price: | C$0.50
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.60
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