By Laura Lutz
Des Moines, Dec. 3 - Knight Resources Ltd. raised C$300,000 from the second and final tranche of its C$4 million private placement of units.
The placement priced on Nov. 7. The first tranche, for C$3.7 million, closed on Nov. 23.
In total, the company sold 10 million flow-through units at C$0.40 per unit. It planned to sell 10 million units at that price. Each unit consists of one flow-through common share and one warrant. Each warrant will be exercisable at C$0.55 for one year.
The first tranche consisted of 9.25 million units, and the second tranche consisted of 750,000 units.
Proceeds will be used for exploration.
Knight Resources is a Vancouver, B.C.-based exploration-stage company focused on nickel, copper, cobalt, platinum and palladium projects.
| Issuer: | Knight Resources Ltd.
|
| Issue: | Flow-through units of one flow-through common share and one warrant
|
| Amount: | C$4 million
|
| Units: | 10 million
|
| Price: | C$0.40
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.55
|
| Pricing date: | Nov. 7
|
| Settlement date: | Nov. 23 (for C$3.7 million); Dec. 3 (for C$300,000)
|
| Stock symbol: | TSX Venture: KNP
|
| Stock price: | C$0.37 at close Nov. 7
|
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