Offering expected to finance exploration activities, working capital
By Devika Patel
Knoxville, Tenn., Sept. 12 - Kestrel Gold Inc. said it plans a C$1 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$0.10 per unit.
Each whole warrant will be 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.
Settlement is expected Sept. 30.
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$1 million
|
| Units: | 10 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 date: | Sept. 30
|
| Stock symbol: | TSX Venture: KGC
|
| Stock price: | C$0.10 at close Sept. 11
|
| Market capitalization: | C$4.52 million
|
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