By Devika Patel
Knoxville, Tenn., Nov. 7 - Knight Resources Ltd. said it intends to raise C$4 million in a private placement of units.
The company will sell 10 million flow-through units at C$0.40 per unit. Each unit consists of one flow-through common share and one warrant. Each warrant will be exercisable at C$0.55 for one year.
Proceeds will be used for exploration.
Knight Resources is a Vancouver, B.C.-based, exploration-stage company engaged in the acquisition and exploration of natural resource properties with potential for nickel, copper, cobalt, platinum and palladium deposits.
| Issuer: | Knight Resources Ltd.
|
| Issue: | Flow-through units of one flow-through common share and one warrant
|
| Amount: | C$4 million
|
| Units: | 10 million
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.55
|
| Pricing date: | Nov. 7
|
| Stock symbol: | TSX Venture: KNP
|
| Stock price: | C$0.37 at close Nov. 7
|
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