Proceeds slated to advance the company's acquired properties
By Susanna Moon
Chicago, May 7 - Kapuskasing Gold Corp. said it plans to complete a non-brokered private placement of units for proceeds of up to C$1 million.
The company plans to sell up to 6,666,666 units of one share and one half-share warrant at a price of C$0.15 each.
Each warrant is exercisable at C$0.20 for two years. The strike price is an 11.11% premium to the company's closing price on May 6.
Proceeds will be used to advance the company's acquired properties and for general working capital purposes.
Kapuskasing Gold Corp, formerly Olympic Resources Ltd., is engaged in the exploration, development and acquisition of graphite, gold and precious metal properties. The company is based in Vancouver, B.C.
| Issuer: | Kapuskasing Gold Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1 million
|
| Shares: | 6,666,666
|
| Price: | C$0.15
|
| Warrants: | One half-share per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Pricing date: | May 7
|
| Stock symbol: | Canada: KAP
|
| Stock price: | C$0.18
|
| Market capitalization: | C$2.9 million
|
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