By Sheri Kasprzak
New York, Dec. 16 - International KRL Resources Corp. said it has upsized to C$2,122,500 its previously announced C$700,000 private placement.
The company now plans to sell up to 2.09 million flow-through units at C$0.25 each and up to 8 million non flow-through units at C$0.20 each.
The flow-through units include one flow-through share and one half-share warrant. The whole warrants are exercisable at C$0.35 each for two years.
The non flow-through units are comprised of one non flow-through share and one half-share warrant. The whole warrants are exercisable at C$0.30 each for two years.
The non-brokered deal was first announced Dec. 14 as including up to 2 million flow-through units and up to 1 million non flow-through units under the same terms.
Proceeds will be used for exploration on the company's Nor uranium property. The remainder will be used for working capital and general exploration expenses.
Vancouver, B.C.-based International KRL is a mineral exploration company.
| Issuer: | International KRL Resources Corp.
|
| Issue: | Flow-through and non flow-through units of one share and one half-share warrant
|
| Amount: | C$2,122,500 (maximum)
|
| Placement agent: | Non-brokered
|
| Pricing date: | Dec. 14
|
| Upsized: | Dec. 16
|
| Stock price: | C$0.24 at close Dec. 16
|
|
|
| Flow-through units
|
| Units: | 2.09 million (maximum)
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
|
|
| Non flow-through units
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| Units: | 8 million (maximum)
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
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