Funds used to explore, develop Lac Cinquante deposit, other prospects
By Devika Patel
Knoxville, Tenn., Dec. 3 - Kivalliq Energy Corp. said it plans a private placement of stock. It will raise C$5 million.
The company will sell C$4.5 million in flow-through shares at C$0.70 per flow-through share and C$500,000 in non flow-through shares at the same price for a total of C$5 million. It will issue a total of 7.1 million shares.
The price per share reflects a 5.41% discount to the Dec. 2 closing share price of C$0.74.
Lumina Capital LP is among the investors.
Proceeds will be used to explore and develop Kivalliq's high-grade Lac Cinquante uranium deposit and other prospects in the Angilak Project and for general working capital purposes.
Kivalliq is a uranium exploration and development company based in Vancouver, B.C.
| Issuer: | Kivalliq Energy Corp.
|
| Issue: | Flow-through shares, non flow-through shares
|
| Amount: | C$5 million
|
| Shares: | 7.1 million
|
| Price: | C$0.70
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Lumina Capital LP
|
| Pricing date: | Dec. 3
|
| Stock symbol: | TSX Venture: KIV
|
| Stock price: | C$0.80 at close Dec. 3
|
| Market capitalization: | C$48.77 million
|
|
|
| Flow-through shares
|
| Amount: | C$4.5 million
|
|
|
| Non flow-through shares
|
| Amount: | C$500,000
|
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