By Sheri Kasprzak
Atlanta, Nov. 5 - Kirkland Lake Gold Inc. said Friday it plans to raise £5.26 million (equivalent to C$11.7 million) in a private placement.
The company plans to sell the offering to European institutional investors. The deal consists of 1,950,292 shares at £2.70 (C$6) per share.
Canaccord Capital Ltd. will serve as placement agent in the deal, which will be placed on a best-efforts basis.
Based in Vancouver, B.C., Kirkland Lake is a gold-mining company. It plans to use the proceeds from the financing for working capital and for development of its Ontario mining operations.
| Issuer: | Kirkland Lake Gold Inc.
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| Issue: | Stock
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| Amount: | £5.26 million
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| Shares: | 1,950,292
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| Price: | £2.70
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| Warrants: | No
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| Placement agent: | Canaccord Capital Ltd.
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| Announcement date: | Nov. 5
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| Stock price: | C$6.25 at close Nov. 5
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