Units sold with full, two-year warrants to finance Congo gold property
By Devika Patel
Knoxville, Tenn., Nov. 19 – Kilo Goldmines Ltd. said it arranged a non-brokered private placement of units to raise between C$2,002,000 and C$3,003,000.
The company will sell units of one common share and one warrant at C$0.07 per unit.
The two-year warrant warrants will be exercisable at C$0.095, a 5.56% premium to the Nov. 18 closing price of C$0.09.
Proceeds will be used for working capital and general corporate purposes, and to maintain the company’s Somituri gold property in the Democratic Republic of Congo.
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 warrant
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| Amount: | C$2,002,000 (minimum), C$3,003,000 (maximum)
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| Price: | C$0.07
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.095
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| Agent: | Non-brokered
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| Pricing date: | Nov. 19
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| Stock symbol: | TSX Venture: KGL
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| Stock price: | C$0.09 at close Nov. 18
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| Market capitalization: | C$4.53 million
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