Deal funds uranium exploration at Angilak and Hatchet Lake properties
By Devika Patel
Knoxville, Tenn., March 30 – Kivalliq Energy Corp. said it will conduct a C$2.7 million non-brokered private placement of units.
The company will sell 10 million units of one common share and a half-share warrant at C$0.12 per unit and 10 million flow-through units of one flow-through common share and a half-share warrant at C$0.15 per unit.
Each whole warrant is exercisable at C$0.18 for two years. The strike price reflects a 50% premium to the March 27 closing share price of C$0.12.
Settlement is expected April 28.
Proceeds will be used for uranium exploration at the Angilak and Hatchet Lake properties and general corporate 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, flow-through units of one flow-through common share and a half-share warrant
|
| Amount: | C$2.7 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.18
|
| Agent: | Non-brokered
|
| Pricing date: | March 30
|
| Settlement date: | April 28
|
| Stock symbol: | TSX Venture: KIV
|
| Stock price: | C$0.12 at close March 27
|
| Market capitalization: | C$24.53 million
|
|
|
| Units
|
| Amount: | C$1.2 million
|
| Units: | 10 million
|
| Price: | C$0.12
|
|
|
| Flow-through units
|
| Amount: | C$1.5 million
|
| Units: | 10 million
|
| Price: | C$0.15
|
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