By Sheri Kasprzak
New York, Nov. 22 - King's Bay Gold Corp. said it plans to raise up to C$3.15 million in a private placement.
The offering includes 3 million units at C$1.05 each.
The units are comprised of one flow-through share, one non flow-through share and one half-share warrant.
The whole warrants are exercisable at C$0.50 each for 18 months.
Wellington West Capital Inc. is the placement agent.
The offering is expected to close Dec. 31.
Proceeds will be used for exploration on existing projects, working capital and operating expenses.
Based in Winnipeg, Man., King's Bay is a gold exploration company.
| Issuer: | King's Bay Gold Corp.
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| Issue: | Units of one flow-through share, one non flow-through share and one half-share warrant
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| Amount: | C$3.15 million
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| Units: | 3 million
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| Price: | C$1.05
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.50
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| Placement agent: | Wellington West Capital Inc.
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| Pricing date: | Nov. 22
|
| Settlement date: | Dec. 31
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| Stock price: | C$0.34 at close Nov. 21
|
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