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Kincora Closes Private Placement with the European Bank for Reconstruction and Development
Kincora Closes Private Placement with the European Bank for Reconstruction and Development...
About this update from Kincora Copper Limited
[{"type":"text","content":"\n\n\n\nKincora Closes Private Placement 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, Oct. 11, 2017\n\n\n\n\nThe European Bank for Reconstruction and Development (\"EBRD\") invests $1.4m and owns 6.16% of Kincora\nEBRD is one of the largest investors in Mongolia and has now contributed capital to all three projects in the Devonian copper belt \n$5.92m total gross funds raised by Kincora in the last two months, with a total of 68,854,232 shares outstanding\n\n\n\nVANCOUVER, Oct. 11, 2017 /CNW/ - Kincora Copper Limited (the \"Company\", \"Kincora\") (TSXV:KCC) announces it has closed 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\").  The Second Tranche Private Placement follows closing of a First Tranche on August 22nd 2017, with total gross funds raised being C$5.92m, supporting a well funded and aggressive exploration and expansion strategy.  \n\nAs per the Company's September 22nd, 2017 press release, each Unit is comprised of one common share (the \"Shares\") and one-half of a share purchase warrant with each whole warrant (the \"Warrants\") entitling the holder to acquire a further Share at C$0.445 for a period of two years. The EBRD holds 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\nSam Spring, President and CEO of Kincora, stated: \"Following an extensive due diligence process we are delighted to have EBRD as a new shareholder. The Bank is a significant investor in some of Mongolia's largest mining projects and has provided finance to assist the development of the two existing economic copper projects in the Devonian belt. EBRD's investment is testament to the growing belief that Kincora holds some of the most exciting exploration assets along one of the last great underexplor...