Offering expected to finance exploration activities, working capital
By Devika Patel
Knoxville, Tenn., Jan. 31 - Kestrel Gold Inc. said it plans a C$4 million non-brokered private placement of units.
The company will sell 10 million units of one common share and one half-share warrant at C$0.40 per unit.
Each whole warrant will be exercisable at C$0.60 for one year. The strike price represents a 33.33% premium to C$0.45, the Jan. 30 closing share price.
Settlement is expected Feb. 29.
Proceeds will be used for exploration activities on the company's mining properties in Argentina and the Yukon Territory and for other working capital requirements.
Based in Calgary, Alta., Kestrel is a gold exploration company.
Issuer: | Kestrel Gold Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$4 million
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Units: | 10 million
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Price: | C$0.40
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.60
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Agent: | Non-brokered
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Pricing date: | Jan. 31
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Settlement date: | Feb. 29
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Stock symbol: | TSX Venture: KGC
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Stock price: | C$0.45 at close Jan. 30
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Market capitalization: | C$14.42 million
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