By Sheri Kasprzak
New York, Dec. 22 - Kodiak Exploration Ltd. has increased to C$2.4 million its previously announced C$2.2 million private placement.
The company now plans to sell 2,285,714 flow-through shares at C$1.05 each.
The deal priced on Dec. 19 as an offering of up to 2,095,238 shares at the same price.
The non-brokered placement is expected to close before Dec. 31 in two tranches.
Proceeds will be used for the company's winter work program at the Caribou Lake property in the Northwest Territories.
Kodiak, based in Vancouver, B.C., is a mineral exploration company.
| Issuer: | Kodiak Exploration Ltd.
|
| Issue: | Flow-through shares
|
| Amount: | C$2.4 million
|
| Shares: | 2,285,714
|
| Price: | C$1.05
|
| Warrants: | No
|
| Placement agent: | Non-brokered
|
| Pricing date: | Dec. 19
|
| Upsized: | Dec. 22
|
| Stock symbol: | TSX Venture: KXL
|
| Stock price: | C$0.90 at close Dec. 22
|
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