Deal offers 2.9 million units of one share, one warrant at C$0.35 each
By Devika Patel
Knoxville, Tenn., Dec. 10 – Kootenay Silver Inc. said it plans a C$1.02 million non-brokered private placement of units.
The company will sell 2.9 million units of one common share and one warrant at C$0.35 per unit.
Each two-year warrant is exercisable at C$0.60. The strike price is a 76.47% premium to C$0.34, the Dec. 9 closing share price.
“These funds will strengthen our treasury and allow us to move confidently ahead with a follow-up drill program at La Negra early in the New Year, with the objective of producing an inaugural NI 43-101 resource estimate on the project by mid-2015. We are excited to continue testing both the high silver grades and wide widths returned from the recent La Negra drill program,” stated president and chief executive officer James McDonald in a press release.
Kootenay is a silver exploration company based in Vancouver, B.C.
| Issuer: | Kootenay Silver Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,015,000
|
| Units: | 2.9 million
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 10
|
| Stock symbol: | TSX Venture: KTN
|
| Stock price: | C$0.34 at close Dec. 9
|
| Market capitalization: | C$22.08 million
|
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