Offering at C$0.25 per unit funds exploration, general working capital
By Devika Patel
Knoxville, Tenn., May 20 - Klondike Silver Corp. said it has arranged a C$1 million private placement of units.
The company will sell 4 million units of one common share and one warrant at C$0.25 per unit. Each four-year warrant will be exercisable at C$0.30, a 15.39% premium to the May 19 closing share price of C$0.26.
Proceeds will be used for exploration and general working capital.
Klondike is a silver exploration company based in Vancouver, B.C.
Issuer: | Klondike Silver Corp.
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Issue: | Units of one common share and one warrant
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Amount: | C$1 million
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Units: | 4 million
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Price: | C$0.25
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Warrants: | One warrant per unit
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Warrant expiration: | Four years
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Warrant strike price: | C$0.30
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Pricing date: | May 20
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Stock symbol: | TSX Venture: KS
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Stock price: | C$0.26 at close May 19
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Market capitalization: | C$2.54 million
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