Non-brokered offering conducted to finance company's loan agreement
By Devika Patel
Knoxville, Tenn., Sept. 21 - Kestrel Gold Inc. said it will sell 10 million units at C$0.40 apiece in a C$4 million non-brokered private placement of units.
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.
Proceeds will be used to fund obligations under the company's previously announced loan arrangement and the option and purchase agreement relating to Rio Diablillos and for general working capital purposes.
Based in Calgary, Alta., Kestrel is a gold exploration company.
| Issuer: | Kestrel Gold Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$4 million
|
| Units: | 10 million
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 21
|
| Stock symbol: | TSX Venture: KGC
|
| Stock price: | C$0.47 at close Sept. 20
|
| Market capitalization: | C$8.28 million
|
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