By Devika Patel
Knoxville, Tenn., Aug. 26 - Kiska Metals Corp. said it will raise C$4.95 million in a private placement of units.
The company will sell 9 million units of one common share and one half-share warrant at C$0.55 apiece on a best-efforts basis. Each whole warrant is exercisable at C$0.80 for 18 months. If the company's common shares trade at C$1.10 or higher for 20 consecutive trading days, the warrants will expire 30 days after the company notifies holders.
Haywood Securities Inc. and Research Capital Corp. are the agents.
Settlement is expected Sept. 14.
Proceeds will be used for exploration of the company's Whistler Project in Alaska and for general corporate purposes.
Toronto's Kiska Metals explores for minerals.
| Issuer: | Kiska Metals Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$4.95 million
|
| Units: | 9 million
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.80
|
| Agents: | Haywood Securities Inc., Research Capital Corp.
|
| Pricing date: | Aug. 26
|
| Settlement date: | Sept. 14
|
| Stock symbol: | TSX Venture: KSK
|
| Stock price: | C$0.61 at close Aug. 25
|
| Market capitalization: | C$15.4 million
|
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