News. (pp close)
K92 Mining closes $10-million private placement
2017-03-22 10:30 ET - News Release
Mr. Ian Stalker reports
K92 MINING CLOSES $10,000,000 FINANCING
K92 Mining Inc. has closed, fully subscribed, the non-brokered private placement announced on March 15, 2017, consisting of the issuance of 13,333,333 units at 75 cents per unit for gross proceeds of $10-million.
All securities issued pursuant to the financing are subject to a four-month hold expiring July 22, 2017. Use of proceeds are intended to include grade control, expansion and exploration drilling, work on the underground incline drive to Kora, and for general corporate purposes.
Each unit consists of one common share and one common share purchase warrant. Each warrant will allow the holder to purchase one common share of K92 at a price of $1 for a period of 12 months from the date of issuance.
In connection with the financing and subject to TSX Venture Exchange approval, K92 intends to pay finders' fees of an aggregate of 1,053,333 shares and 1,053,333 warrants (exercisable at $1 for a period of 12 months) to various finders.
We seek Safe Harbor.
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