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Kootenay Silver Announces $5.0 Million Private Placement Financing
Kootenay Silver Announces $5.0 Million Private Placement Financing Canada NewsWire...
About this update from Kootenay Silver Inc.
[{"type":"text","content":"\n\n\n\nKootenay Silver Announces $5.0 Million Private Placement Financing\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, July 28, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n VANCOUVER, BC, July 28, 2020 /CNW/ - Kootenay Silver Inc. (\"Kootenay\" or the \"Company\") (TSXV: KTN), is pleased to announce that it has entered into an agreement with Mackie Research Capital Corporation, as lead agent and sole bookrunner (the \"Lead Agent\"), on its own behalf and, if applicable, on behalf of a syndicate of agents (together with the Lead Agent, the \"Agents\") in connection with a best efforts, private placement of units of the Company (the \"Units\") at a price of $0.40 per Unit (the \"Offering Price\") for gross proceeds of up to $5,000,000 (the \"Offering\"). \n\n \n \n \n \n \n \n\n \nEach Unit will be comprised of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall be exercisable to acquire one Common Share (a \"Warrant Share\") at a price of $0.55 per Warrant Share for a period of 24 months from the closing of the Offering. \nThe Agents will have an option (the \"Agents' Option\") to offer for sale up to an additional 15% of the number of Units sold in the Offering at the Offering Price, which Agents' Option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering.\nThe Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes.\nThe securities to be issued under the Offering will be offered by way of private placement in each of the provinces of Canada, other than Quebec, and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.\nThe Offering is scheduled to close on or about the week of August 20, 2020, or such date as a...