By Devika Patel
Knoxville, Tenn., Feb. 8 - Kimber Resources Inc. said it will raise C$5 million in a non-brokered private placement of units.
The company will sell 6,666,667 units of one common share and one half-share warrant at C$0.75 apiece.
The whole warrants will be exercisable at C$1.25 for two years.
There is an over-allotment option for C$1 million.
Proceeds will be used for exploration.
Based in Vancouver, B.C., Kimber is a gold and silver exploration company.
Issuer: | Kimber Resources Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$5 million
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Greenshoe: | C$1 million
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Units: | 6,666,667
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Price: | C$0.75
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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$1.25
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Agent: | Non-brokered
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Pricing date: | Feb. 8
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Stock symbol: | Toronto: KBR
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Stock price: | C$0.75 at close Feb. 7
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