Company sells 10.47 million units at C$0.12 in final tranche
By Marisa Wong
Madison, Wis., April 30 – Kivalliq Energy Corp. said it closed the final tranche of its non-brokered private placement announced on March 30. Under the final tranche, Kivalliq issued an additional 10,469,166 non-flow-through units at C$0.12 per unit for proceeds of C$1,256,300.
This brings the total deal size to C$2,779,120.
Each non-flow-through unit consists of one non-flow-through common share and one-half of a non-transferable, non-flow-through common share purchase warrant.
Each whole warrant will be exercisable into a non-flow-through common share for a period of 24 months from the closing date at an exercise price of C$0.18 per share. The strike price reflects a 50% premium to the March 27 closing share price of C$0.12.
On April 20, Kivalliq said it closed the first tranche of the placement by issuing 10,152,134 flow-through units at the price of C$0.15 per unit for proceeds of C$1,522,820.
Kivalliq will use proceeds from for corporate purposes, as well as to fund mineral exploration in Saskatchewan and the Nunavut Territory, Canada.
Kivalliq is a uranium exploration and development company based in Vancouver, B.C.
| Issuer: | Kivalliq Energy Corp.
|
| Issue: | Units of one common share and a half-share warrant, flow-through units of one flow-through common share and a half-share warrant
|
| Amount: | C$2,779,120
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 24 months
|
| Warrant strike price: | C$0.18
|
| Agent: | Non-brokered
|
| Pricing date: | March 30
|
| Settlement date: | April 20 (for C$1,522,820), April 30 (for C$1,256,300)
|
| Stock symbol: | TSX Venture: KIV
|
| Stock price: | C$0.12 at close March 27
|
| Market capitalization: | C$25.51 million
|
|
|
| Units
|
| Amount: | C$1,256,300
|
| Units: | 10,469,166
|
| Price: | C$0.12
|
|
|
| Flow-through units
|
| Amount: | C$1,522,820
|
| Units: | 10,152,134
|
| Price: | C$0.15
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
