By Devika Patel
Knoxville, Tenn., Aug. 26 - Kilo Goldmines Ltd. said it will take in C$10 million in a private placement of units.
The company will sell 22.25 million units of one common share and one half-share warrant at C$0.45 apiece on a best-efforts basis. Each whole warrant is exercisable at C$0.60 for two years.
Haywood Securities Inc. is the lead agent.
Settlement is expected Sept. 22.
Proceeds will be used for exploration, working capital and general corporate purposes.
The gold exploration and development company is based in Toronto.
Issuer: | Kilo Goldmines Ltd.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$10 million
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Units: | 22.25 million
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Price: | C$0.45
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.60
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Agent: | Haywood Securities Inc. (lead)
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Pricing date: | Aug. 26
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Settlement date: | Sept. 22
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Stock symbol: | TSX Venture: KGL
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Stock price: | C$0.45 at close Aug. 25
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Market capitalization: | C$1 million
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