Offering expected to finance exploration activities, working capital
By Devika Patel
Knoxville, Tenn., June 15 - Kestrel Gold Inc. said it plans a C$2.3 million non-brokered private placement of stock.
The company will sell 10 million common shares at C$0.23 apiece. The price per share represents a 23.33% discount to C$0.30, the June 14 closing share price.
Proceeds will be used for exploration activities and general working capital requirements.
Based in Calgary, Alta., Kestrel is a gold exploration company.
| Issuer: | Kestrel Gold Inc.
|
| Issue: | Common stock
|
| Amount: | C$2.3 million
|
| Shares: | 10 million
|
| Price: | C$0.23
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | June 15
|
| Stock symbol: | TSX Venture: KGC
|
| Stock price: | C$0.30 at close June 14
|
| Market capitalization: | C$10.91 million
|
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