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Otterburn arranges C$15 million private placement of special warrants
Deal funds exploration and resource delineation at Kainantu property
By Devika Patel
Knoxville, Tenn., May 19 – Otterburn Resources Corp. said it plans to raise about C$15 million in a private placement of special warrants. The deal has a C$4.5 million greenshoe.
The special warrants are each convertible into one common share.
The deal will be conducted by a syndicate of agents led by TD Securities Inc. and including Canaccord Genuity Corp., Haywood Securities Inc., Euro Pacific Canada Inc., Salman Partners Inc. and Wolverton Securities Ltd.
Settlement is expected in June.
Proceeds will be used for exploration and resource delineation at K92 Holdings International Ltd.'s Kainantu property, to refurbish K92's existing mine and mill and for general corporate purposes.
The metals explorer is based in Vancouver, B.C.
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