The Prospector News

Ellis Martin Report – “Kodiak Closes Financing of Proceeds C$9.6 Million” (Audio)

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Ellis Martin Report – “Kodiak Closes Financing of Proceeds C$9.6 Million” (Audio)

 

 

 

https://youtu.be/WPF1TCJxurM

 

 

In this segment of The Ellis Martin Report we speak with Claudia Tornquist, the President and CEO of Kodiak Copper Corp (TSX-V:KDK) (OTC:KDKCF). The company has just closed an oversubscribed upsized private placement for gross proceeds of C$9.6 million.

 

Kodiak Copper Corp. is pleased to announce that it has closed its bought deal private placement financing and non-brokered private placement  previously announced on March 8 and 9, 2022, for aggregate gross proceeds to the Company of C$9.6 million. A total of 4,375,000 charity flow-through common shares  were sold pursuant to the Offering at a price of C$2.08 per Charity FT Share for gross proceeds to the Company of C$9.1 million, including the full exercise of the underwriters’ option.

 

The Offering was oversubscribed, receiving strong interest from the institutional investor community and certain existing investors. Teck Resources Limited  exercised its equity participation right to maintain its 9.9% ownership position in Kodiak, acquiring approximately 1.38 million shares in connection with the Offering.

 

Kodiak also completed a non-brokered private placement of flow-through common shares  for gross proceeds of C$0.5 million  whereby 260,417 FT Shares were issued at a price of C$1.92. Certain insiders of the Company participated in the Private Placement.

 

Claudia Tornquist, President and CEO of Kodiak said, “There was strong investor demand for this financing and I am pleased to welcome several well-recognized, long-term focused institutional investors as new Kodiak shareholders. I wish to thank our largest shareholder Teck for their ongoing support, as well as our chairman Chris Taylor and all other insiders who participated in this financing. With a treasury of around C$18 million, Kodiak is now very well positioned to further advance its MPD project in southern British Columbia where 2022 will see the largest exploration campaign on the property to date, as we are aiming to both extend the Gate Zone further and make more discoveries. I am also looking forward to the maiden drill program at our Mohave project in Arizona this year”.

 

Courtesy of Ellis Martin Report

Posted April 5, 2022

Share this news article

MORE or "UNCATEGORIZED"


GR Silver Mining Extends Silver Mineralization with Step-Out Drilling at San Marcial 11.9 m @ 226 g/t Ag Eq* including 0.9m @ 716 g/t Ag Eq

GR Silver Mining Ltd. (TSX-V: GRSL) (OTCQB: GRSLF) (FRANKFURT: G... READ MORE

July 25, 2025

Big Ridge Gold Corp. Closes Upsized $5.2 Million Private Placement

Big Ridge Gold Corp. (TSX-V: BRAU) (OTCQB: ALVLF) is pleased to a... READ MORE

July 25, 2025

St. Augustine Closes Private Placement

St. Augustine Gold and Copper Limited (TSX: SAU) is pleased to announce ... READ MORE

July 25, 2025

GoldShore Intersects Additional Mineralization Beneath the Conceptual Open Pit at the Southwest Zone with 22m of 1.30 g/t Au

Goldshore Resources Inc. (TSX-V: GSHR) (OTCQB: GSHRF) (FSE: 8X00)... READ MORE

July 25, 2025

Benz Announces Closing Final Tranche of A$13.5M Financing

Benz Mining Corp. (TSX-V: BZ) (ASX: BNZ) is pleased to advise tha... READ MORE

July 25, 2025

Copyright 2025 The Prospector News