Business
Kootenay Announces $2 Million Investment from Sprott Asset Management
Kootenay Announces $2 Million Investment from Sprott Asset Management Canada NewsW...
About this update from Kootenay Silver Inc.
[{"type":"text","content":"\n\n\n\nKootenay Announces $2 Million Investment from Sprott Asset Management\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. 4, 2019\n\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES ORFOR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, Oct. 4, 2019 /CNW/ - Kootenay Silver Inc.  (TSXV: KTN) (the \"Company\" or \"Kootenay\") is pleased to announce a non-brokered private placement of $2,000,000 consisting of 7,692,308 units (the \"Units\") at a price of $0.26 per Unit (the \"Placement Price\"). \n\n \n \n\n \nJames McDonald President and CEO stated, \"We are happy to have initially secured the personal support of Eric Sprott and now separately, Sprott Asset Management LP(1). With this additional investment we are in a strong position to continue to aggressively move both our high-grade projects, Columba and Copalito ahead over the coming months.\"\nEach Unit will be comprised of one common share (a \"Share\") and one-half of one non-transferable common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will be exercisable to purchase an additional one common share (a \"Warrant Share\") of the Company at an exercise price of $0.40 per Warrant Share for a period of 24 months immediately following the closing date of the Private Placement.\nNet proceeds of the Private Placement will be used to advance exploration of the Columba Silver Project in Chihuahua State, Mexico, potentially adding a further drill rig to expedite the current drill program, and to fund further work at Copalito, La Cigarra and other projects as well as for general working capital purposes.\nAll securities to be issued pursuant to the Private Placement will be subject to a four month hold period from the closing date under applicable securities laws in Canada and among other things, receipt by Kootenay of all necessary regulatory approvals, including the TSX Venture Exchange. \nThe securities being offered under the Private Placement have not been, nor will they be registered under the U...