Proceeds used for site exploration on mining and prospecting licenses
By Devika Patel
Knoxville, Tenn., July 29 - Kombat Copper Inc. said it will conduct a C$3 million private placement of units. Forbes & Manhattan, Inc. will assist in selling C$2 million of the units.
The company will sell 30 million units of one common share and one warrant at C$0.10 per unit. Each warrant is exercisable at C$0.20 for three years. The strike price is an 81.82% premium to C$0.11, the July 26 closing share price.
Proceeds will be used for site exploration on the company's mining and prospecting licenses in the Otavi Mountainlands and Namibia and for general corporate purposes.
The copper explorer is based in Vancouver, B.C.
| Issuer: | Kombat Copper Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3 million
|
| Units: | 30 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.20
|
| Agent: | Forbes & Manhattan, Inc. (for C$2 million)
|
| Pricing date: | July 29
|
| Stock symbol: | TSX Venture: KBT
|
| Stock price: | C$0.11 at close July 26
|
| Market capitalization: | C$8.64 million
|
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