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Kincora Announces Private Placement Agreement with the European Bank for Reconstruction and Development
Kincora Announces Private Placement Agreement with the European Bank for Reconstruction an...
About this update from Kincora Copper Limited
[{"type":"text","content":"\n\n\n\nKincora Announces Private Placement Agreement with the European Bank for Reconstruction and Development\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Sept. 22, 2017\n\n\n\n/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\n\n$1.4m placement to the European Bank for Reconstruction and Development (\"EBRD\")\nEBRD is one of the largest investors in Mongolia and will own 6.16% of Kincora\n$5.92m raised by Kincora via the recent two tranche private placements\nDrilling ongoing at East Tsagaan Suvarga (\"East TS\") target\n\n\n\nVANCOUVER, Sept. 22, 2017 /CNW/ - Kincora Copper Limited (the \"Company\", \"Kincora\") (TSXV:KCC) is pleased to announce the entering into of a subscription agreement (the \"Subscription Agreement\") for a second tranche non-brokered private placement of units (the \"Units\") at C$0.33 per Unit to raise C$1,400,000 (the \"Second Tranche Private Placement\") with the European Bank for Reconstruction and Development (\"EBRD\"). The Second Tranche Private Placement follows closing of a First Tranche on August 22nd 2017, with total gross funds raised being C$5.92m.  \n\nAs per the Frist Tranche, each Unit will be comprised of one common share of the Company (each, a \"Share\") and one-half of a share purchase warrant, each whole warrant (each, a \"Warrant\") entitling the holder to acquire a further Share at C$0.445 for a period of two years. The Subscription Agreement provides EBRD with certain pre-emptive rights to acquire further shares of Kincora in future private placements and requires that EBRD consent to a disposition of any interest in the Company's Mongolian subsidiaries.\n\nEBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 37 economies across three continents. The Bank is owned by 66 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well-governed, green, r...