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Kootenay Announces Increase in Non-brokered Private Placement and Closing for Proceeds of $7.0 Million
Kootenay Announces Increase in Non-brokered Private Placement and Closing for Proceeds of ...
About this update from Kootenay Silver Inc.
[{"type":"text","content":"\n\n\n\nKootenay Announces Increase in Non-brokered Private Placement and Closing for Proceeds of $7.0 Million\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, March 6, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES ORFOR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, March 6, 2019 /CNW/ - Kootenay Silver Inc.  (TSXV: KTN) (the \"Company\" or \"Kootenay\") is pleased to report that, due to significant interest, the Company has increased the size of its non-brokered private placement financing (the \"Private Placement\") announced on February 5, 2019.  The Private Placement, which was originally for gross proceeds of $2,500,000, closed today for gross proceeds to the Company of $7,000,289.66.\n\n \n \n\n \nKootenay President & CEO, James McDonald stated, \"The successful acquisition of two new projects in 2018 with the potential for the discovery of high-grade silver deposits has generated substantial interest. Moving forward particular focus will be on the Columba Property due to the very high grades of silver reported from historic mine records.  The Company is very excited about this prospect's size potential indicated by numerous undrilled veins as well as the high level of preservation of the system.  We are very pleased to now have sufficient funds to conduct the first modern drill program at Columba to begin as soon as permits are in hand which is expected to be in early April.\"\nThe Columba Property, located in the state of Chihuahua, is a classic epithermal vein system with the potential for the discovery of high-grade silver deposits. Historic mining records indicate that up to approximately 100,000 tonnes of silver ore was mined during two different periods dating back to 1900. Mapping and sampling completed by Kootenay of mineralized veins exposed at surface returned grades of up to 692 g/t silver as well as silver grades found in tailings from historic mining endorse the information found in the reports: click link to view map. &...