Offering is slated to finance exploration activities, working capital
By Devika Patel
Knoxville, Tenn., Nov. 20 - Kestrel Gold Inc. said it raised C$110,000 in the second and final tranche of a C$365,000 non-brokered private placement of units. The deal priced for C$1 million Sept. 12 and raised C$255,000 on Oct. 31.
The company sold 3.65 million units of one common share and one half-share warrant at C$0.10 per unit. It sold 2.55 million units in the initial tranche and 1.1 million units in the second tranche.
Each whole warrant is exercisable at C$0.20 for one year. The strike price represents a 100% premium to C$0.10, the Sept. 11 closing share price.
Proceeds will be used for exploration on the company's mining properties in the Yukon Territory and other general working capital requirements.
Based in Calgary, Alta., Kestrel is a gold exploration company.
| Issuer: | Kestrel Gold Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$365,000
|
| Units: | 3.65 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 12
|
| Settlement dates: | Oct. 31 (for C$255,000), Nov. 20 (for C$110,000)
|
| Stock symbol: | TSX Venture: KGC
|
| Stock price: | C$0.10 at close Sept. 11
|
| Market capitalization: | C$5.02 million
|
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