By Devika Patel
Knoxville, Tenn., July 29 - Kivalliq Energy Corp. said it settled a C$5 million initial tranche of a C$6.2 million non-brokered private placement of units. The deal priced July 15.
The company is selling 24.8 million units of one common share and a half-share warrant at C$0.25 apiece to Lumina Capital Ltd. Partnership and other investors. Each whole warrant will be exercisable at C$0.35 for two years.
Proceeds will be used to explore and develop Kivalliq's Lac Cinquante uranium deposit and for general working capital purposes.
Kivalliq is a uranium exploration and development company based in Vancouver, B.C.
| Issuer: | Kivalliq Energy Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$6.2 million
|
| Units: | 24.8 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Investor: | Lumina Capital Ltd. Partnership
|
| Pricing date: | July 15
|
| Settlement date: | July 29 (for C$5 million)
|
| Stock symbol: | TSX Venture: KIV
|
| Stock price: | C$0.30 at close July 15
|
| Market capitalization: | C$19.24 million
|
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