The Prospector News

K92 Mining Closes CAN$50 Million Bought Deal Financing

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

K92 Mining Closes CAN$50 Million Bought Deal Financing

 

 

 

 

 

K92 Mining Inc. (TSX: KNT) is pleased to announce that, further to the Company’s press release dated June 13, 2022, the Company has closed its bought deal private placement for aggregate gross proceeds of CAN$50,000,875, pursuant to which the Company issued 5,405,500 common shares at a price of CAN$9.25 per Share.

 

The Offering was led by Clarus Securities Inc. and Cormark Securities Inc., as co-lead underwriters and co-bookrunners, and a syndicate of underwriters that included National Bank Financial Inc., Stifel Nicolaus Canada Inc., BMO Capital Markets, Scotia Capital Inc., Desjardins Securities Inc., Eight Capital, PI Financial Corp., Raymond James Ltd., Haywood Securities Inc. and   TD Securities Inc., The Underwriters were paid a cash fee of 5.0% of the aggregate gross proceeds of the Offering.

 

The Company has also granted to the Underwriters an over-allotment option, exercisable in whole or in part in the sole discretion of the Underwriters at any time until August 5, 2022, to purchase up to an additional 810,825 Shares, at a price of CAN$9.25 per Share, to cover over-allotments.

 

The Company intends to use the net proceeds of the Offering for continued exploration near the Kainantu Mine and regionally, continued expansion of the Kainantu Mine, for public company operating and administrative expenses and working capital purposes.

The Company filed a short form prospectus dated June 27, 2022 in the provinces of British Columbia, Alberta and Ontario, Canada, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions to qualify the distribution of the Shares offered pursuant to the Offering. Copies of the Prospectus and documents incorporated by reference therein are available electronically on SEDAR (www.sedar.com) under the Company’s issuer profile.

 

The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

About K92

 

K92 Mining Inc. is engaged in the production of gold, copper and silver from the Kora and Judd deposits at the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine. The Company declared commercial production from Kainantu in February 2018 and is in a strong financial position.

 

K92 is operated by a team of mining company professionals with extensive international mine-building and operational experience.

 

Posted July 6, 2022

Share this news article

MORE or "UNCATEGORIZED"


High-Grade Gold up to 42.3 g/t Confirmed in First Two Drillholes at Bousquet

High-Grade Gold up to 42.3 g/t Confirmed in First Two Drillholes ... READ MORE

July 28, 2025

NexMetals Achieves an Initial 15.2% Head Grade Increase at Selebi North Using Modern Technology Demonstrating High Recoveries and Significant Waste Reduction

NexMetals Mining Corp. (TSX-V: NEXM) (NASDAQ: NEXM) reports initi... READ MORE

July 28, 2025

Midland Announces Closing of $6.1 Million Private Placement with Strategic Investment from Centerra Gold

Midland Exploration Inc. (TSX-V: MD) is pleased to announce the c... READ MORE

July 28, 2025

Antimony Resources Corp. (ATMY) (K8J0) Intersects More Massive Antimony-Bearing Stibnite ("Sb"), Assays up to 14.91% Sb over 3.3 Meters Including a Zone of Massive Antimony-Bearing Stibnite Which Returned 34% Sb over One Meter

Antimony Resources Corp. (CSE: ATMY) (FSE: K8J0) reports that ass... READ MORE

July 28, 2025

Surge Reports Significant Amounts of Critical Minerals Rubidium and Cesium Contained Within its Nevada North Lithium Project

Surge Battery Metals Inc. (TSX-V: NILI) (OTCQX: NILIF) (FSE: DJ5... READ MORE

July 28, 2025

Copyright 2025 The Prospector News