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Kintavar Exploration Closes $3.29M Private Placement for Wabash Copper Project
MONTREAL, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), is pleased to announce th
About this update from Auriginal Mining Corp.
[{"type":"text","content":" MONTREAL, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), is pleased to announce that it has closed a non-brokered private placement (the “Offering”) and issued 6,226,297 units of the Corporation (each a “Unit”) at a price of $0.17 per Unit and 9,702,447 common shares of the Corporation (each a “Share”), issued on a flow through basis, at a price of $0.23 per Share, for total cumulative gross proceeds of $3,290,033. Each Unit being comprised of one (1) Share and one half of one (1/2) Share purchase warrant, each whole warrant entitling the holder hereof to acquire one (1) Share at a price of $0.23 per Share until November 10, 2023. The Offering is subject to final acceptance of the TSX Venture Exchange. “After an exciting summer season full of discoveries at the Wabash project, Kintavar has now secured an important financing to take the project to the next step. In addition to strong support from institutional and existing shareholders, the project has now attracted interest from numerous retail brokers. Everyone is looking for the next major copper discovery and we believe Kintavar has a very special project that could deliver that. The entire Mitchi-Wabash district is only in its early days. This financing gives us a strong sign of support and confidence as we begin the initial drilling program on Wabash and prepare for a very active 2022. The ongoing COP26 summit demonstrates the importance of electrification and reduction of greenhouse gases which requires a substantial amount of copper that is not available today. The world needs new copper discoveries and Kintavar being well financed with cash flow from its local operations, world class infrastructure, local support and geopolitical stability in Quebec is well positioned to be part of the solution,” commented Kiril Mugerman, President & CEO of Kintavar. Certain officers and directors of the Corporation or related corporation have participated in this Private Placement for a total of 550,000 Shares and 100,000 Units distributed pursuant to the Offering (the “Insiders’ Participation”). The Insiders’ Participation is exempt from the formal valuation and shareholder approval requirements provided under Regulation 61-101 respecting Protection of Minority Holders in Special Transactions (“Regulatio...