Deal sells 22.4 million units to finance exploration, corporate purposes
By Devika Patel
Knoxville, Tenn., Feb. 7 - West Kirkland Mining Inc. said it completed a C$5.6 million best efforts private placement of units. Cormark Securities Inc. and PI Financial Corp. were the agents.
The company sold 22.4 million units of one common share and a warrant at C$0.25 per unit.
Each warrant is exercisable at C$0.40 for one year. The strike price reflects a 48.15% premium to the Feb. 6 closing share price of C$0.27.
Proceeds will be used for exploration and general corporate purposes.
The gold explorer is based in Vancouver, B.C.
| Issuer: | West Kirkland Mining Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$5.6 million
|
| Units: | 22.4 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.40
|
| Agents: | Cormark Securities Inc. and PI Financial Corp.
|
| Settlement date: | Feb. 7
|
| Stock symbol: | TSX Venture: WKM
|
| Stock price: | C$0.27 at close Feb. 6
|
| Market capitalization: | C$8.76 million
|
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