By Devika Patel
Knoxville, Tenn., March 12 - Kimber Resources Inc. said it took in C$6 million in a non-brokered private placement of units. The deal priced for C$5 million with a C$1 million greenshoe on Feb. 8.
The company sold 8 million 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.
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$6 million
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Units: | 8 million
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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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Settlement date: | March 12
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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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