Proceeds used for exploration program at Angilak Property in Nunavut
By Devika Patel
Knoxville, Tenn., April 2 - Kivalliq Energy Corp. said it will conduct a C$4.5 million non-brokered private placement of units.
The company will sell 15 million units of one common share and one warrant at C$0.30 per unit.
Each two-year warrant will be exercisable at C$0.50, a 66.67% premium to the April 1 closing share price of C$0.30.
Proceeds will be used to fund the first phase of the company's 2013 exploration program at the Angilak Property in Nunavut, Canada, 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 one warrant
|
| Amount: | C$4.5 million
|
| Units: | 15 million
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | April 2
|
| Stock symbol: | TSX Venture: KIV
|
| Stock price: | C$0.30 at close April 1
|
| Market capitalization: | C$53.04 million
|
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