By Devika Patel
Knoxville, Tenn., Feb. 4 - Kirkland Lake Gold Inc. said it completed a C$32.01 million private placement of units. The deal priced for C$20 million on Jan. 13 and was lifted to C$32 million on Jan. 14.
The company sold units at C$8.25 apiece. Each unit consists of one common share and one third-share warrant, with each whole warrant exercisable at C$10.00 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$32,014,125
|
| Price: | C$8.25
|
| Warrants: | One third-share warrant per unit
|
| Warrant expiration: | 13 months
|
| Warrant strike price: | C$10.00
|
| Pricing date: | Jan. 13
|
| Upsized: | Jan. 14
|
| Settlement date: | Feb. 4
|
| Stock symbol: | Toronto: KGI
|
| Stock price: | C$8.75 at close Jan. 13
|
| Market capitalization: | C$412 million
|
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