Deal funds exploration at the Kombat Mine and general working capital
By Devika Patel
Knoxville, Tenn., Feb. 17 – Kombat Copper Inc. said it settled a C$1.36 million non-brokered private placement of units. The deal priced for C$1.3 million on Jan. 30.
The company sold 27.21 million units of one common share and one warrant at C$0.05 per unit.
Each warrant is exercisable at C$0.10 for two years. The strike price reflects a 100% premium to the Jan. 29 closing share price of C$0.05.
Proceeds will be used for exploration at the Kombat Mine and general working capital purposes.
The copper explorer is based in Vancouver, B.C.
| Issuer: | Kombat Copper Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,360,500
|
| Units: | 27.21 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 30
|
| Settlement date: | Feb. 17
|
| Stock symbol: | TSX Venture: KBT
|
| Stock price: | C$0.05 at close Jan. 29
|
| Market capitalization: | C$7.85 million
|
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