By Sheri Kasprzak
Atlanta, Feb. 23 - Kimber Resources Inc. said it has closed a non-brokered private placement of units for C$5,100,002.
The company sold 3,290,323 units at C$1.55 each to Sprott Asset Management Inc., two Canadian mutual funds and an offshore investment fund.
The units include one share and one half-share warrant. The whole warrants allow for an additional share at C$1.80 each through March 8, 2006.
Two institutional investors bought 1 million units and two other investors bought 645,162 units in place of a proposed C$2 million offering of convertible debentures, which will not take place.
The offering was first announced Feb. 9 as a C$3.55 million deal of 1 million units under the same terms and C$2 million in convertible debentures.
Based in Vancouver, B.C., Kimber Resources is a gold and silver exploration company. The company plans to use the proceeds for the testing of exploration targets, pre-feasibility studies on its Carmen deposit and general corporate purposes.
| Issuer: | Kimber Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5,100,002
|
| Units: | 3,290,323
|
| Price: | C$1.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | March 8, 2006
|
| Warrant strike price: | C$1.80
|
| Investors: | Sprott Asset Management Inc.
|
| Announcement date: | Feb. 9
|
| Settlement date: | Feb. 23
|
| Stock price: | C$1.64 at close Feb. 9
|
| Stock price: | C$2.10 at close Feb. 23
|
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