By Devika Patel
Knoxville, Tenn., May 14 - Kinbauri Gold Corp. said it will take in C$3 million in a non-brokered private placement of units.
The company will sell 6 million units of one common share and one half-share warrant at C$0.50 apiece. The whole warrants are exercisable at C$0.70 for one year.
Proceeds will be used for general working capital purposes.
Kinbauri is a mineral exploration and development company based in Ottawa.
| Issuer: | Kinbauri Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 6 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.70
|
| Agent: | Non-brokered
|
| Pricing date: | May 14
|
| Stock symbol: | TSX Venture: KNB
|
| Stock price: | C$0.59 at close May 13
|
| Market capitalization: | C$27.3 million
|
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