Non-brokered offering for working capital, general corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 1 - Kinetex Resources Corp. said it plans a C$1 million non-brokered private placement of units.
The company will sell 10 million units of one common share and one warrant at C$0.10 per unit.
Each warrant will be exercisable at C$0.25 for two years. The strike price represents a 92.31% premium to C$0.13, the Aug. 31 closing share price.
Proceeds will be used for working capital and general corporate purposes.
Kinetex is an oil, gas and mineral exploration company based in Vancouver, B.C.
| Issuer: | Kinetex Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 1
|
| Stock symbol: | TSX Venture: KTX
|
| Stock price: | C$0.13 at close Aug. 31
|
| Market capitalization: | C$4.39 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
