By Laura Lutz
Des Moines, Nov. 27 - Kodiak Exploration Ltd. raised C$53.92 million from its private placement of shares, including a partially exercised greenshoe for C$13.92 million.
The placement priced on Nov. 6 as a C$40 million offering with a greenshoe for C$10 million. The greenshoe was upsized to C$15 million on Nov. 7.
In total, Kodiak sold 2,499,984 flow-through shares at C$4.80 each and 11,032,658 non flow-through shares at C$3.80 each.
National Bank Financial Inc. and Cormark Securities Inc. co-led a syndicate of underwriters that also included CIBC World Markets, RBC Capital Markets, Dundee Securities Corp., Paradigm Capital Corp. and Raymond James Ltd.
Insiders of Kodiak and relatives, close friends and associates of insiders bought about C$5 million of the shares.
Proceeds will be used for exploration, land acquisitions and general corporate purposes.
Based in Vancouver, B.C., Kodiak is a mineral exploration company focused on gold, base metals and uranium in Canada.
| Issuer: | Kodiak Exploration Ltd.
|
| Issue: | Flow-through shares, common shares
|
| Amount: | C$53,924,023 (includes greenshoe for C$13,924,023)
|
| Warrants: | No
|
| Agents: | National Bank Financial Inc. (lead), Cormark Securities Inc. (lead), CIBC World Markets, RBC Capital Markets, Dundee Securities Corp., Paradigm Capital Corp., Raymond James Ltd.
|
| Pricing date: | Nov. 6
|
| Upsized: | Nov. 7
|
| Settlement date: | Nov. 27
|
| Stock symbol: | TSX Venture: KXL
|
| Stock price: | C$4.12 at close Nov. 5
|
|
|
| Flow-through shares
|
| Shares: | 2,499,984
|
| Price: | C$4.80
|
|
|
| Common shares
|
| Shares: | 11,032,658
|
| Price: | C$3.80
|
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