By Sheri Kasprzak
New York, Aug. 9 - Kirkland Lake Gold Inc. said it plans to raise up to C$5 million in a private placement of units.
The offering includes up to 1.25 million units at C$4.00 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for an additional share at C$4.60 each for nine months.
Proceeds from the deal will be used for the development and exploration of the company's mining properties.
Based in Kirkland Lake, Ont., Kirkland Lake is a gold exploration company.
| Issuer: | Kirkland Lake Gold Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$5 million (maximum)
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| Units: | 1.25 million (maximum)
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| Price: | C$4.00
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Nine months
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| Warrant strike price: | C$4.60
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| Pricing date: | Aug. 9
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| Stock price: | C$3.90 at close Aug. 8
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