Deal finances exploration activities on the King Solomon Dome Project
By Devika Patel
Knoxville, Tenn., April 4 - Kestrel Gold Inc. said it plans a C$1.2 million non-brokered private placement of units.
The company will sell 15 million units of one common share and a half-share warrant at C$0.08 per unit. Each whole warrant is exercisable at C$0.15 for one year. The strike price reflects a 66.67% premium to the April 3 closing share price of C$0.09.
Proceeds will be used for exploration activities on the King Solomon Dome Project and 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 a half-share warrant
|
| Amount: | C$1.2 million
|
| Units: | 15 million
|
| Price: | C$0.08
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | April 4
|
| Stock symbol: | TSX Venture: KGC
|
| Stock price: | C$0.09 at close April 3
|
| Market capitalization: | C$3.3 million
|
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