Offerings to raise funds for exploration, general corporate purposes
By Devika Patel
Knoxville, Tenn., Oct. 18 - Kilo Goldmines Ltd. said it will raise C$5 million in a private placement of stock via agent Clarus Securities Inc. on a best-efforts basis. It also will raise C$5 million in a non-brokered private placement of stock.
The company will sell 50 million common shares at C$0.20 per share. Of the shares, 25 million will be sold by the agent and the remaining 25 million will be sold on a non-brokered basis. Insiders are expected to invest C$4 million in the non-brokered deal.
The price per share is a 2.44% discount to the Oct. 17 closing share price of C$0.205.
Settlement is expected Nov. 3.
Proceeds will be used for exploration and general corporate purposes.
The gold exploration and development company is based in Toronto.
| Issuer: | Kilo Goldmines Ltd.
|
| Issue: | Common shares
|
| Amount: | C$10 million
|
| Shares: | 50 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agents: | Clarus Securities Inc. (for C$5 million), non-brokered (for C$5 million)
|
| Pricing date: | Oct. 18
|
| Settlement date: | Nov. 3
|
| Stock symbol: | TSX Venture: KGL
|
| Stock price: | C$0.205 at close Oct. 17
|
| Market capitalization: | C$30.38 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.
