Deal with C$2 million greenshoe funds exploration, corporate purposes
By Devika Patel
Knoxville, Tenn., May 7 - Kivalliq Energy Corp. said it plans a C$10 million private placement of stock.
The company will sell 7.78 million common shares at C$0.45 apiece, a 2.17% discount to the May 4 closing share price of C$0.46. It also will sell 13 million flow-through common shares at C$0.50 apiece, an 8.7% premium to the May 4 closing share price.
The deal will be conducted on a bought-deal basis by a syndicate of underwriters led by Dundee Securities Ltd. and including Versant Partners Inc., Canaccord Genuity Corp. and National Bank Financial Inc. The agents have a C$2 million greenshoe.
Settlement is expected May 29.
Proceeds will be used for exploration and general corporate purposes.
Kivalliq is a uranium exploration and development company based in Vancouver, B.C.
| Issuer: | Kivalliq Energy Corp.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | C$10,001,000
|
| Greenshoe: | C$2 million
|
| Warrants: | No
|
| Underwriters: | Dundee Securities Ltd. (lead), Versant Partners Inc., Canaccord Genuity Corp. and National Bank Financial Inc.
|
| Pricing date: | May 7
|
| Settlement date: | May 29
|
| Stock symbol: | TSX Venture: KIV
|
| Stock price: | C$0.46 at close May 4
|
| Market capitalization: | C$68.61 million
|
|
|
| Common stock
|
| Amount: | C$3,501,000
|
| Shares: | 7.78 million
|
| Price: | C$0.45
|
|
|
| Flow-through stock
|
| Amount: | C$6.5 million
|
| Shares: | 13 million
|
| Price: | C$0.50
|
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