By Devika Patel
Knoxville, Tenn., June 27 - Kola Mining Corp. said it hopes to sell C$10 million of its units in a private placement.
The company will sell up to 33,333,334 units at C$0.30 per unit.
Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.45 for two years.
Proceeds will be used for the development of the company's Souker Nickel project in Russia and for working capital.
Vancouver, B.C.-based Kola is a mineral exploration company.
| Issuer: | Kola Mining Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$10 million
|
| Units: | 33,333,334
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.45
|
| Pricing date: | June 27
|
| Stock symbol: | TSX Venture: KM
|
| Stock price: | C$0.28 at close June 26
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
