By Devika Patel
Knoxville, Tenn., July 23 - Kilo Goldmines Ltd. said it plans a C$5 million private placement of units. M Partners and Vicarage Capital Ltd. are the lead agents.
The company will sell 25 million units at C$0.20 apiece. Each unit consists of one common share and a half-share warrant. Each full warrant is exercisable at C$0.30 for two years.
Settlement is expected July 30.
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.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$5 million
|
| Units: | 25 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agents: | M Partners and Vicarage Capital Ltd. (leads)
|
| Pricing date: | July 23
|
| Settlement date: | July 30
|
| Stock symbol: | TSX Venture: KGL
|
| Stock price: | C$0.22 at close July 23
|
| Market capitalization: | C$14.09 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
