Deal funds general working capital purposes; shares sold at C$0.05
By Devika Patel
Knoxville, Tenn., March 3 - Kerr Mines Inc. said it plans a C$5 million private placement of shares.
The company will sell 100 million common shares at C$0.05 per share. The price per share is a 25% premium to C$0.04, the Feb. 28 closing share price.
Settlement is expected March 17.
Proceeds will be used for general working capital purposes.
The gold exploration and development company is based in Kirkland Lake, Ont.
| Issuer: | Kerr Mines Inc.
|
| Issue: | Common shares
|
| Amount: | C$5 million
|
| Shares: | 100 million
|
| Price: | C$0.05
|
| Warrants: | No
|
| Pricing date: | March 3
|
| Settlement date: | March 17
|
| Stock symbol: | Toronto: KER
|
| Stock price: | C$0.04 at close Feb. 28
|
| Market capitalization: | C$15.13 million
|
© 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.
