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Kodiak Announces Bought Deal Financing and Non-Brokered Private Placement
Kodiak Announces Bought Deal Financing and Non-Brokered Private Placement Canad...
About this update from Kodiak Copper Corp.
[{"type":"text","content":"\n \n \n \n Kodiak Announces Bought Deal Financing and Non-Brokered Private Placement\n \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 Canada NewsWire\n \n \n \n \n \n /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n March 8, 2022\n \n /CNW/ - Kodiak Copper Corp. (the \"Company\" or \"Kodiak\") (TSXV: KDK) (OTCQB: KDKCF) (\n \n Frankfurt\n \n : 5DD1) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the \"Underwriters\"), pursuant to which the Underwriters shall purchase 3,125,000 charity flow-through common shares (\"Charity FT Shares\") at a price of\n \n C$2.08\n \n per Charity FT Share, on a \"bought deal\" private placement basis, for aggregate gross proceeds to the Company of\n \n C$6.5 million\n \n (the \"Offering\"). The Company has granted the Underwriters an option, exercisable at the offering price until the closing of the Offering, to purchase up to an additional 15% of the Charity FT Shares issued in connection with the Offering.\n \n \n Kodiak will also be completing a non-brokered private placement of flow-through common shares (the \"FT Shares\") for aggregate gross proceeds of up to\n \n C$0.5 million\n \n (the \"Private Placement\"). The FT Shares will be issued at a price of\n \n C$1.92\n \n . Certain insiders of the Company will participate in the Private Placement.\n \n \n The Charity FT Shares and FT Shares qualify as \"flow-through shares\" of the Company for the purposes of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ). The gross proceeds from the Offering and Private Placement will be used to incur \"Canadian exploration expenses\" which also qualify as \"flow through mining expenditures\" (as those terms are defined in the\n \n Income Tax Act\n \n (\n \n Canada\n \n )) related to Kodiak's projects in\n \n British Columbia\n \n . The Company will renounc...