By Devika Patel
Knoxville, Tenn., Jan. 22 - KFG Resources Ltd. said it will raise C$1.95 million in a private placement of units.
The company will sell 30 million units of a common share and one warrant at C$0.065 per unit.
Each warrant will be exercisable at C$0.10 for two years.
Union Securities Ltd. is the agent.
KFG, through its wholly owned subsidiary KFG Petroleum Corp., drills for and produces crude oil and natural gas in Mississippi, Kansas and Texas. It is based in Natchez, Miss.
| Issuer: | KFG Resources Ltd.
|
| Issue: | Units of a common share and one warrant
|
| Amount: | C$1.95 million
|
| Units: | 30 million
|
| Price: | C$0.065
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Union Securities Ltd.
|
| Pricing date: | Jan. 22
|
| Stock symbol: | TSX Venture: KFG
|
| Stock price: | C$0.06 at close Jan. 22
|
| Market capitalization: | C$3.03 million
|
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