By Devika Patel
Knoxville, Tenn., Aug. 2 - Kansai Mining Corp. announced it has raised C$1.6 million in a non-brokered private placement of units of one share and one warrant.
Kansai sold 16 million units at C$0.10 apiece. Each warrant is exercisable for one share at C$0.15 for two years.
Proceeds will be used to help finance a drill program on the Migori gold project in Kenya, to fund operating costs in Venezuela, to reduce debt and to fund working capital.
Kansai is a mining and exploration company based in Whitehorse, Yukon Territory.
| Issuer: | Kansai Mining Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1.6 million
|
| Units: | 16 million
|
| Price: | C$0.10
|
| Warrants: | One per unit
|
| Warrant strike price: | C$0.15
|
| Warrant term: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 2
|
| Stock symbol: | TSX Venture: KAN
|
| Stock price: | C$0.08 at close Aug. 1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
