Non-brokered offering consists of equity units priced at C$0.40 apiece
By Devika Patel
Knoxville, Tenn., Oct. 7 - Kestrel Gold Inc. said the proceeds from its non-brokered private placement of units will only be used for general working capital purposes until it gets approval from the TSX Venture exchange to fund its obligations under a loan arrangement. The deal priced Sept. 21.
Kestrel is selling 10 million units at C$0.40 apiece for C$4 million.
The units consist of one common share and one warrant. Each whole warrant will be exercisable at C$0.60 for one year.
The strike price represents a 27.66% premium to C$0.47, the Sept. 20 closing share price.
Based in Calgary, Alta., Kestrel is a gold exploration company.
Issuer: | Kestrel Gold Inc.
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Issue: | Units of one common share and one warrant
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Amount: | C$4 million
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Units: | 10 million
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Price: | C$0.40
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Warrants: | One warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.60
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Agent: | Non-brokered
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Pricing date: | Sept. 21
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Stock symbol: | TSX Venture: KGC
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Stock price: | C$0.47 at close Sept. 20
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Market capitalization: | C$7.57 million
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