Private financing offers units of common shares and one-year warrants
By Devika Patel
Knoxville, Tenn., Oct. 11 - Kokanee Minerals Inc. said it settled a C$7.5 million non-brokered private placement of units.
The company sold 50 million units at C$0.15 apiece. Each unit consists of one common share and one warrant, with each warrant exercisable at C$0.30 until Oct. 11, 2012. The strike price represents a 36.36% premium to C$0.22, the Oct. 7 closing share price.
The precious metals explorer is based in Vancouver, B.C.
| Issuer: | Kokanee Minerals Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$7.5 million
|
| Units: | 50 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Oct. 11, 2012
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Settlement date: | Oct. 11
|
| Stock symbol: | TSX Venture: KOK
|
| Stock price: | C$0.22 at close Oct. 11
|
| Market capitalization: | C$6.81 million
|
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