By Devika Patel
Knoxville, Tenn., Feb. 2 - Kirkland Lake Gold Inc. said it has arranged a C$10.67 million non-brokered private placement of units.
The company will sell 2.2 million units of one common share and one quarter-share warrant at C$4.85 per unit.
Each whole warrant will be exercisable at C$5.50 for one year.
Proceeds will be used for working capital and to fund further development of the company's mining operations.
Kirkland is a gold exploration company based in Kirkland Lake, Ont.
| Issuer: | Kirkland Lake Gold Inc.
|
| Issue: | Units of one common share and one quarter-share warrant
|
| Amount: | C$10.67 million
|
| Units: | 2.2 million
|
| Price: | C$4.85
|
| Warrants: | One quarter-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$5.50
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 2
|
| Stock symbol: | Toronto: KGI
|
| Stock price: | C$5.13 at close Feb. 2
|
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