By Devika Patel
Knoxville, Tenn., Aug. 19 - Kirkland Lake Gold Inc. increased a private placement of units with Wellington West Capital Markets Inc. to C$30.16 million. The company also said the greenshoe was exercised in full, bringing the total to C$37.12 million. The deal priced for C$25.27 million on Aug. 18 with a C$3.79 million greenshoe.
The company will now sell 4,555,000 units of one common share and one third-share warrant at C$8.15 per unit on a bought-deal basis.
Each whole warrant will be exercisable at C$9.85 for 13 months.
Proceeds will be used for working capital and general corporate purposes.
Kirkland is a gold exploration company based in Kirkland Lake, Ont.
| Issuer: | Kirkland Lake Gold Inc.
|
| Issue: | Units of one common share and one third-share warrant
|
| Amount: | C$37,123,250, including greenshoe
|
| Units: | 4,555,000
|
| Price: | C$8.15
|
| Warrants: | One third-share warrant per unit
|
| Warrant expiration: | 13 months
|
| Warrant strike price: | C$9.85
|
| Agent: | Wellington West Capital Markets Inc.
|
| Pricing date: | Aug. 18
|
| Upsized: | Aug. 19
|
| Stock symbol: | Toronto: KGI
|
| Stock price: | C$8.80 at close Aug. 18
|
| Market capitalization: | C$503 million
|
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