Shares sold in deal to finance exploration, general corporate purposes
By Devika Patel
Knoxville, Tenn., July 29 – Kennady Diamonds Inc. said it will raise about C$4 million in a non-brokered private placement of stock.
The company will sell common shares at C$3.40 apiece, a 9.81% discount to the July 28 closing share price of C$3.77.
Bottin International Investments Ltd. will participate.
Proceeds will be used for exploration, evaluation and permitting programs and general corporate purposes.
The diamond exploration company is based in Toronto.
| Issuer: | Kennady Diamonds Inc.
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| Issue: | Common shares, flow-through common shares
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| Amount: | C$4 million (approximate)
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| Price: | C$3.40
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| Warrants: | No
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| Agent: | Non-brokered
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| Investor: | Bottin International Investments Ltd.
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| Pricing date: | July 29
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| Stock symbol: | TSX Venture: KDI
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| Stock price: | C$3.77 at close July 28
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| Market capitalization: | C$108.81 million
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