Deal sells stock at C$0.10 in connection with $30 million acquisition
By Devika Patel
Knoxville, Tenn., Jan. 29 - West Kirkland Mining Inc. said it settled a C$650,000 initial tranche of its C$1.5 million private placement of stock. The deal priced Jan. 27 and is being conducted in connection with the company's planned $30 million acquisition of the Hasbrouck and Three Hills properties from Allied Nevada Gold Corp.
The company is selling 15 million common shares at C$0.10 per share. The price per share is identical to the Jan. 24 closing share price. It sold 6.5 million shares in the first tranche.
Of the proceeds, $500,000 has been allocated for the non-refundable deposit the company paid to Allied Nevada Gold Corp. on Jan. 24, and the remainder will be used for general working capital purposes.
The gold explorer is based in Vancouver, B.C.
| Issuer: | West Kirkland Mining Inc.
|
| Issue: | Common shares
|
| Amount: | C$1.5 million
|
| Shares: | 15 million
|
| Price: | C$0.10
|
| Warrants: | No
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 29 (for C$650,000)
|
| Stock symbol: | TSX Venture: WKM
|
| Stock price: | C$0.10 at close Jan. 24
|
| Market capitalization: | C$6.44 million
|
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