Non-brokered offering is to finance exploration and working capital
By Devika Patel
Knoxville, Tenn., Jan. 30 - Kivalliq Energy Corp. said it will conduct a C$7.41 million non-brokered private placement of stock.
The company will sell 3 million flow-through common shares at C$0.52 apiece and 13 million common shares at C$0.45 apiece. The prices per share are an 8.33% premium and 6.25% discount to C$0.48, the Jan. 27 closing share price.
Settlement is expected Feb. 16.
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: | Flow-through common shares, common shares
|
| Amount: | C$7.41 million
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 30
|
| Settlement date: | Feb. 16
|
| Stock symbol: | TSX Venture: KIV
|
| Stock price: | C$0.48 at close Jan. 30
|
| Market capitalization: | C$58.92 million
|
|
|
| Flow-through stock
|
| Amount: | C$1.56 million
|
| Shares: | 3 million
|
| Price: | C$0.52
|
|
|
| Common stock
|
| Amount: | C$5.85 million
|
| Shares: | 13 million
|
| Price: | C$0.45
|
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