By Sheri Kasprzak
Atlanta, March 14 - Kodiak Exploration Ltd. said it will raise C$2,823,600 in a private placement.
The offering includes 9,412,000 units at C$0.30 each.
The units are comprised of one share and on warrant. The warrants provide for an additional share at C$0.50 each for one year.
Based in Vancouver, B.C., Kodiak is a mineral exploration company. It plans to use the proceeds for its drilling program on the Knucklethumb property in Ontario. The remainder will be used for working capital.
| Issuer: | Kodiak Exploration Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2,823,600
|
| Units: | 9,412,000
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
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| Warrant expiration: | One year
|
| Warrant strike price: | C$0.50
|
| Pricing date: | March 9
|
| Stock price: | C$0.39 at close March 9
|
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