By Sheri Kasprzak
New York, Feb. 21 - Kimber Resources Inc. said it plans to raise a total of C$9.9 million in two private placements.
The largest is a non-brokered offering of 3.8 million shares at C$2.00 each. Those shares are being offered to Canadian institutional and accredited investors.
The other deal is a brokered offering of 1.15 million shares at the same price offered to accredited investors in the United States.
The price per share is an 8.8% discount to the five-day average closing price of the company's stock immediately before pricing.
Proceeds will be used for drilling on the company's Carmen and Carotare deposits and on the El Orito Norte exploration target. The rest will be used for general corporate purposes.
Based in Vancouver, B.C., Kimber is a gold and silver exploration company.
Non-brokered offering
Issuer: | Kimber Resources Inc.
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Issue: | Stock
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Amount: | C$7.6 million
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Shares: | 3.8 million
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Price: | C$2.00
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Warrants: | No
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Placement agent: | Non-brokered
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Pricing date: | Feb. 21
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Stock symbol: | TSX Venture: KBR
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Stock price: | C$2.40 at close Feb. 20
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Brokered offering
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Issuer: | Kimber Resources Inc.
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Issue: | Stock
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Issue: | C$2.3 million
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Shares: | 1.15 million
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Price: | C$2.00
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Warrants: | No
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Placement agent: | Not disclosed
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Pricing date: | Feb. 21
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Stock symbol: | TSX Venture: KBR
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Stock price: | C$2.40 at close Feb. 20
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