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Kubera Gold Completes Initial Public Offering and Lists on TSX Venture Exchange
VANCOUVER, BC / ACCESSWIRE / March 11, 2024 / Kubera Gold Corp. (the "Company") (TSXV:KBRA) is pleased to announce that it has completed its initial public offe
About this update from Kubera Gold Corp
[{"type":"text","content":"VANCOUVER, BC / ACCESSWIRE / March 11, 2024 / Kubera Gold Corp. (the \"Company\") (TSXV:KBRA) is pleased to announce that it has completed its initial public offering (the \"Offering\") of 3,000,000 common shares (\"Common Shares\") in the capital of the Company at a price of $0.25 per Common Share for gross proceeds of $750,000, pursuant to a final prospectus of the Company dated December 18, 2023 and filed in each of the provinces of British Columbia, Alberta and Ontario (the \"Prospectus\"). On closing of the Offering, a total of 9,591,920 Common Shares were issued and outstanding, of which 1,200,000 Common Shares are currently held in escrow pursuant to National Policy 46-201 - Escrow for Initial Public Offerings, as disclosed in the Prospectus. The net proceeds of the Offering are expected to be used by the Company for exploration expenditures on its Dash Lake project (the \"Dash Lake Project\") which covers an area of approximately 815 hectares and is located approximately 90 kilometres north of the town of Fort Frances, Ontario, within the Kenora Mining Division, and for general working capital purposes. Pursuant to an agency agreement dated December 18, 2023 between the Company and Research Capital Corporation (the \"Agent\"), and in connection with the completion of the Offering, the Company granted to the Agent 180,000 Common Share purchase warrants (each, a \"Agent's Warrant\"), with each Agent's Warrant entitling the Agent to acquire one Common Share at a price of $0.25 per Common Share for a period of 36 months from the closing of the Offering (\"Closing\"). In addition, the Agent received a cash commission of $45,000, representing 6% of the aggregate gross proceeds of the Offering, and a corporate finance fee of $30,000 plus applicable taxes. The TSX Venture Exchange (\"TSXV\") has accepted the Company's listing application of the Common Shares as a Tier 2 Mining Issuer (\"Listing\"). The Common Shares will commence trading on the TSXV at market open on March 13, 2024, under the trading symbol KBRA. The Company's CUSIP is 50116K101 and ISIN is CA50116K1012. Immediately following Closing, the Company granted an aggregate of 800,000 stock options (the \"Options\") to directors, officers and a consultant of the Company permitting them to acquire up to an aggregate of 800,000 Common Shares. Each Option is exercisable t...