By Sheri Kasprzak
New York, Feb. 9 - International KRL Resources Corp. said it has concluded its previously announced private placement for C$2,285,000.
The company issued 2.36 million flow-through units at C$0.25 each and 8,475,000 non flow-through units at C$0.20 each.
The flow-through units include one share and one half-share warrant. The whole warrants are exercisable at C$0.35 each for two years.
The non flow-through units consist of one share and one half-share warrant. The whole warrants are exercisable at C$0.30 each for two years.
International KRL priced the deal on Dec. 16 as a C$700,000 offering of up to 2 million flow-through units and up to 1 million non flow-through units.
On Dec. 16, the offering was upsized to C$2,122,500.
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$2,285,000
|
| Placement agent: | Non-brokered
|
| Pricing date: | Dec. 14
|
| Upsized: | Dec. 16
|
| Settlement date: | Feb. 9
|
| Stock symbol: | TSX Venture: IRK
|
| Stock price: | C$0.18 at close Dec. 14
|
| Stock price: | C$0.24 at close Dec. 16
|
| Stock price: | C$0.39 at close Feb. 8
|
|
|
| Flow-through units
|
| Units: | 2.36 million
|
| 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
|
| Units: | 8,475,000
|
| 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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