By Sheri Kasprzak
New York, Aug. 31 - Kilgore Minerals Ltd. said it plans to raise C$1.5 million from a private placement.
The offering includes 3,571,428 units at C$0.42 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for the purchase of an additional share at C$0.50 each for two years.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$1.00 on days when at least 1,000 shares trade for 20 consecutive trading days.
A syndicate of placement agents led by PowerOne Capital Markets Ltd. and including Haywood Securities Inc. and Boulder Investment Partners Ltd. has an over-allotment option for up to C$500,000 in additional proceeds.
Based in Vancouver, B.C., Kilgore is a uranium and gold exploration company.
| Issuer: | Kilgore Minerals Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.5 million
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| Greenshoe: | For up to C$500,000
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| Units: | 3,571,428
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| Price: | C$0.42
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.50
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| Placement agents: | PowerOne Capital Markets Ltd. (lead); Haywood Securities Inc.; Boulder Investment Partners Ltd.
|
| Pricing date: | Aug. 31
|
| Stock price: | C$0.45 at close Aug. 31
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