By Laura Lutz
Des Moines, Nov. 20 - Kinbauri Gold Corp. arranged a private placement of units for up to C$1.045 million.
The company plans to sell up to 1.9 million units of one share and one half-share warrant at C$0.55 per unit. Each whole warrant is exercisable at C$0.75 for 18 months.
M Partners Inc. will act as agent.
Proceeds will be used for drilling at the company's Corcoesto gold project in northwestern Spain, due diligence and development planning at its El Valle/Carles project in northern Spain and working capital.
Kinbauri is a mineral company focused on properties in Spain, Nevada and Canada.
| Issuer: | Kinbauri Gold Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.045 million
|
| Units: | 1.9 million
|
| Price: | C$0.55 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.75
|
| Agent: | M Partners Inc.
|
| Pricing date: | Nov. 20
|
| Stock symbol: | TSX Venture: KNB
|
| Stock price: | C$0.64 at close Nov. 17
|
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