By Sheri Kasprzak
New York, March 13 - Kaminak Gold Corp. said it wrapped its previously announced private placement with the partially exercised greenshoe for C$3,497,500.
The company sold 2.6 million flow-through units at C$0.55 each and 4,135,000 non flow-through units at C$0.50 each, including the greenshoe for 600,000 additional flow-through units and 335,000 non flow-through units exercised by placement agent Canaccord Capital Corp.
The flow-through units include one share and one half-share warrant, with each whole warrant exercisable at C$0.70 for two years.
The non flow-through units consist of one share and one warrant, with each warrant exercisable at C$0.60 for two years.
The deal priced Feb. 13 as a C$2.1 million offering of 2 million flow-through and 2 million non flow-through units. It was upsized on Feb. 21 to C$3 million.
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.
|
| Issue: | Flow-through units of one share and one half-share warrant and non flow-through units of one share and one warrant
|
| Amount: | C$3,497,500
|
| Placement agent: | Canaccord Capital Corp.
|
| Pricing date: | Feb. 13
|
| Upsized: | Feb. 20
|
| Settlement date: | March 13
|
| Stock symbol: | TSX Venture: KAM
|
| Stock price: | C$0.55 at close Feb. 13
|
| Stock price: | C$0.56 at close Feb. 20
|
| Stock price: | C$0.51 at close March 13
|
|
|
| Flow-through units
|
| Units: | 2.6 million (includes greenshoe for 600,000 units)
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.70
|
|
|
| Non flow-through units
|
| Units: | 4,135,000 (includes greenshoe for 335,000 units)
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
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