By Sheri Kasprzak
New York, Jan. 5 - Kit Resources Ltd. said it has completed a non-brokered private placement for C$2.8 million.
The company sold 40 million units at C$0.07 each.
The units include one share and one warrant. The warrants are exercisable at C$0.10 each for two years.
Based in Vancouver, B.C., Kit is a diamond exploration company.
| Issuer: | Kit Resources Ltd.
|
| Issue: | Units of one share and one warrant
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| Amount: | C$2.8 million
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| Units: | 40 million
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| Price: | C$0.07
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.10
|
| Placement agent: | Non-brokered
|
| Settlement date: | Jan. 5
|
| Stock price: | C$0.65 at close Jan. 5
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