By Devika Patel
Knoxville, Tenn., Aug. 10 - Kiska Metals Corp. said it has completed the brokered portion of a private placement of units, which is now slated to raise C$6.5 million. Raymond James Ltd. assisted in raising C$4.1 million in this tranche.
The deal priced July 21 and was increased to C$6 million from C$4 million on July 30. The non-brokered portion, for C$2.4 million, is expected to settle on Aug. 16.
The company is selling units of one common share and one half-share warrant at C$0.82 each.
The whole warrants are exercisable at C$1.15 each for two years. The strike price reflects a 35.29% premium to the C$0.85 closing share price on July 20.
Proceeds will be used for exploration and general corporate purposes.
Based in Toronto, Kiska Metals is a mineral exploration company.
| Issuer: | Kiska Metals Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$6,502,800
|
| Price: | C$0.82
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.15
|
| Agent: | Raymond James Ltd. (for C$4,102,800), non-brokered
|
| Pricing date: | July 21
|
| Upsized: | July 30, Aug. 10
|
| Settlement date: | Aug. 10 (for C$4,102,800), Aug. 16 (for C$2.4 million)
|
| Stock symbol: | TSX Venture: KSK
|
| Stock price: | C$0.85 at close July 20
|
| Market capitalization: | C$52.11 million
|
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