Business
Kootenay Closes $3.9 Million in First Tranche of Private Placement
Kootenay Closes $3.9 Million in First Tranche of Private Placement Canada NewsWire...
About this update from Kootenay Silver Inc.
[{"type":"text","content":"\n\n\n\nKootenay Closes $3.9 Million in First Tranche of Private Placement\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, Dec. 14, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nVANCOUVER, Dec. 14, 2017 /CNW/ - Kootenay Silver Inc. (TSXV: KTN) (the \"Company\" or \"Kootenay\") is pleased to announce that further to its press release dated November 15, 2017, it has closed the initial tranche of its non-brokered private placement (the \"Private Placement\") and has issued an aggregate of 19,549,480 units (each a \"Unit\") at a purchase price of $0.20 per Unit for gross proceeds to the Company of $3,909,896.  Each Unit consists of one common share (\"Common Share\") and one-half of a transferable common share purchase warrant (each whole warrant a \"Warrant\"). Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.30 per share until December 13, 2020.  Cash finder's fees to arm's length parties totaling $154,600 have been paid on this portion of the Private Placement.\n\nThe final tranche of the Private Placement to raise a further $109,000 by the issuance of an additional 545,000 Units is expected to close shortly, for aggregate total gross proceeds to Kootenay under the Private Placement of $4,018,896. The Company will announce the closing of the final tranche upon completion.\n\nThe net proceeds of the Private Placement will be used to fund the exploration and development of the Company's La Cigarra project in Chihuahua State, Mexico, possible new acquisitions and for general working capital purposes.\n\nAll securities issued pursuant to the Private Placement are subject to a four month hold period under applicable securities laws in Canada, ending on April 14, 2018. \n\nThe securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any State Securities Laws and may not be offered or sold in the United States or to the account...