Deal sells units of one flow-through share and a half-share warrant
By Devika Patel
Knoxville, Tenn., Aug. 1 – Kivalliq Energy Corp. said it raised C$506,000 in the second and final tranche of a C$1.14 million non-brokered private placement of units. The deal priced for C$1.1 million on July 2 and raised C$506,000 on July 8.
The company sold 5,172,728 units of one flow-through common share and a half-share warrant at C$0.22 per unit. It sold 2.3 million units in the initial tranche and 2,872,728 units in the second tranche.
Each whole, two-year warrant is exercisable at C$0.28, a 55.56% premium to the July 1 closing share price of C$0.18.
Proceeds will be used for mineral exploration.
Kivalliq is a uranium exploration and development company based in Vancouver, B.C.
| Issuer: | Kivalliq Energy Corp.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1,138,000
|
| Units: | 5,172,728
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.28
|
| Agent: | Non-brokered
|
| Pricing date: | July 2
|
| Settlement date: | July 8 (for C$506,000), Aug. 1 (for C$632,000)
|
| Stock symbol: | TSX Venture: KIV
|
| Stock price: | C$0.18 at close July 1
|
| Market capitalization: | C$35.34 million
|
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