Uncategorized
Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on Google+
Google+
Email this to someone
email

Kootenay Closes $3.9 Million in First Tranche of Private Placement

 

 

 

 

 

Kootenay Silver Inc. (TSX-V: KTN) is pleased to announce that further to its press release dated November 15, 2017, it has closed the initial tranche of its non-brokered private placement and has issued an aggregate of 19,549,480 units at a purchase price of $0.20 per Unit for gross proceeds to the Company of $3,909,896.  Each Unit consists of one common share and one-half of a transferable common share purchase warrant. Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.30 per share until December 13, 2020.  Cash finder’s fees to arm’s length parties totaling $154,600 have been paid on this portion of the Private Placement.

 

 

The final tranche of the Private Placement to raise a further $109,000 by the issuance of an additional 545,000 Units is expected to close shortly, for aggregate total gross proceeds to Kootenay under the Private Placement of $4,018,896. The Company will announce the closing of the final tranche upon completion.

 

 

The net proceeds of the Private Placement will be used to fund the exploration and development of the Company’s La Cigarra project in Chihuahua State, Mexico, possible new acquisitions and for general working capital purposes.

 

 

All securities issued pursuant to the Private Placement are subject to a four month hold period under applicable securities laws in Canada, ending on April 14, 2018.

 

 

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any State Securities Laws and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act. This release does not constitute an offer for sale of securities in the United States.

 

 

About Kootenay Silver Inc.

 

 

Kootenay Silver Inc. is an exploration company actively engaged in the discovery and development of mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Supported by one of the largest portfolios of silver assets in Mexico, Kootenay continues to provide its shareholders with significant leverage to silver prices. The Company remains focused on the expansion of its current silver resources, new discoveries and the near-term economic development of two of its priority silver projects located in prolific mining districts in Sonora, State and Chihuahua, State, Mexico, respectively.

 

Posted December 14, 2017

Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on Google+
Google+
Email this to someone
email

MORE or "UNCATEGORIZED"


ORENINC INDEX halves as broker action evaporates (again)

ORENINC INDEX – Monday, April 23rd 2018 North Americ... READ MORE

April 24, 2018

Gwen Preston - "Uranium: US-Russia spat could push price up, but political trades are risky"

It’s been days since President Trump sent missiles into Syria, ... READ MORE

April 24, 2018

Pershimex Resources Corporation drill intercept 10 meters at 1.39 grams/tonne gold on the Malartic property

Pershimex Resources Corporation (TSX-V:PRO) is pleased to announc... READ MORE

April 24, 2018

Fiore Gold Ltd. Reports Results of the Resource and Reserve Expansion Drilling Program at Its Pan Mine in Nevada, Including 25.9 Metres of 0.96 g/t Gold

FIORE GOLD LTD. (TSX-V: F) (OTCQB: FIOGF) is pleased to provide results ... READ MORE

April 24, 2018

Aztec Minerals Intersects 0.77 grams per tonne Gold over 160.0 meters Including 1.04 gpt Gold over 80.0 m at Cervantes Property, Sonora, Mexico

Aztec Minerals Corp. (TSX-V:AZT) (OTCQB: AZZTF) continues to intersect l... READ MORE

April 24, 2018

Copyright 2018 The Prospector News - Site design by Spyderbaby Productions