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Kintavar Announces Third and Final Closing for a Total of $10.2M and Reports on Successful First Month of Drilling on Mitchi
Highlights: Total gross proceeds from the non-brokered private placement of $10,153,586.80 11 drill holes completed for over 2,200 m in 17 days in the Sherlock-
About this update from Auriginal Mining Corp.
[{"type":"text","content":" Highlights: Total gross proceeds from the non-brokered private placement of $10,153,586.80 11 drill holes completed for over 2,200 m in 17 days in the Sherlock-Watson corridor All drill holes intercepted marble mineralization 1 new trench 300 m east of Sherlock with 8 m of folded mineralized marble 3 new trenches in the Nasigon area with over 8 m of mineralized marble in each Over 2,000 m drilling program on Nasigon planned for July and August 4 new zones identified on Hispana with copper mineralization IP survey on Hispana planned for later in the summer to prepare for drilling Airborne magnetic survey planned to cover the northern portion of the property MONTREAL, June 27, 2018 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V:KTR) (FRANKFURT:58V), is pleased to announce that further to its news release dated April 9, 2018 and June 18, 2018, Kintavar has successfully closed the third and final tranche of its non-brokered private placement (the \"Offering\") and issued 5,017,500 units of the Corporation (each a “Unit”) at a price of $0.40 per Unit and 3,051,500 common shares of the Corporation (each a “Share”), issued on a flow through basis, at a price of $0.54 per Share, for total cumulative gross proceeds of $10,153,586.80. Each Unit is comprised of one (1) Share and one half of one (1/2) Share purchase warrant of the Corporation, with each whole warrant entitling the holder to acquire one (1) Share at a price of $0.70 per Share until June 27, 2020. The Corporation will use the proceeds of the Offering for the ongoing drilling program on the Mitchi property and for working capital purposes. In connection with the second tranche of the Offering, the Corporation paid finders’ fees totalling $81,496.80 cash and issued 159,920 Share purchase warrants of the Corporation, each entitling to acquire one (1) Share until June 27, 2020 at an exercise price of $0.54 per Share. All securities issued pursuant to the Offering are subject to the applicable statutory four month hold period ending October 28, 2018. The Offering is subject to the final approval of the TSX Venture Exchange. Mitchi Exploration Update Exploration activities on the Mitchi property are divided between the three mineralized stratiform corridors: Sherlock-Watson corridor – since the beginning of June, 11 diamond dril...