Good Management !!!!!Two directors bought 5m shares each at 0.05 cents in last PP that was in Oct 2017. Than in December, they decided to raise more fund and go for 10:1 rollover. As per Canadian insider report they haven't sold any of their shares as of today.
1. Announced proposed rollover 10:1 on January 26th, 2018
2. Applied January 29th, 2018
3. 2M dolllars PP announced on January 31st, 2018 at 0.27 cents a share.
4. 1.215M PP closed at 0.27 cents , Feb 02, 2018. with only 1 year expiry warrants.
5. I am expecting news this week for second PP close for 0.8M dollarsor possibly over subcribed.
If they want to drive price lower than they should do like some other junior does:
1. Announce rollover, wait more than 3 months, market will fear and price will keep dropping
2. Apply rollover and wait more than one month
3. Announce proposed PP at lower price than current share price
4. After month or so close PP with warrant, more than 3 years expiry.
Looks like we have good management here and they are moving way faster than some other juniors in the market. Looks like soon they might announce another PP to buy out that Sully property. If not they will excercise their warrants for another 2.8M dollars.
KOOTENAY CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT FOR $1,215,000
Vancouver, Canada, February 2, 2018 – Kootenay Zinc Corp. (the “Company”) (CSE:ZNK; OTCQB:KTNNF; FSE:KYH) is pleased to announce that they have closed the first tranche of the non-brokered private placement for 4,500,000 units for gross proceeds $1,215,000 at a price of $0.27 per unit.
Each unit consists of one common share of the Company and one common share purchase warrant. Each whole warrant is convertible into one common share at a price of $0.36 per share and is exercisable for a period of one year.
The proceeds of the private placement will be used for the Company’s exploration activities and general working capital.