Offering expected to fund exploration and general corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 10 - Kilo Goldmines Ltd. said it took in C$6.76 million in a private placement of stock via agent Clarus Securities Inc. It also raised C$3.63 million in a non-brokered private placement of stock for a total of C$10.39 million. The offerings priced for C$5 million each on Oct. 18.
The company sold 51.95 million common shares at C$0.20 per share. Of the shares, 33.8 million were sold by the agent with the remaining 18.15 million sold on a non-brokered basis to insiders.
The price per share is a 2.44% discount to the Oct. 17 closing share price of C$0.205.
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$10.39 million
|
| Shares: | 51.95 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agents: | Clarus Securities Inc. (for C$6.76 million), non-brokered (for C$3.63 million)
|
| Pricing date: | Oct. 18
|
| Settlement date: | Nov. 10
|
| Stock symbol: | TSX Venture: KGL
|
| Stock price: | C$0.205 at close Oct. 17
|
| Market capitalization: | C$29.56 million
|
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