Private financing offers units of common shares and two-year warrants
By Devika Patel
Knoxville, Tenn., Oct. 8 - Kokanee Minerals Inc. said a planned private placement of units is fully subscribed. The deal will raise C$1.13 million.
The company will sell 7.5 million units at C$0.15 apiece. Each unit consists of one common share and one warrant, with each two-year warrant exercisable at C$0.20 in the first year and at C$0.25 thereafter. The strike prices represent a 14.89% discount and a 6.38% premium to C$0.235, the Oct. 7 closing share price.
The mineral explorer is based in Vancouver, B.C.
| Issuer: | Kokanee Minerals Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,125,000
|
| Units: | 7.5 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20 in the first year, C$0.25 thereafter
|
| Announcement date: | Oct. 8
|
| Stock symbol: | TSX Venture: KOK
|
| Stock price: | C$0.29 at close Oct. 8
|
| Market capitalization: | C$5.57 million
|
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