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Kivalliq Energy Announces a Non-brokered Private Placement - Video Posted on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - April 5, 2013) - Kivalliq Energy (TSXV: KIV) an...
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[{"type":"text","content":"\nKivalliq Energy Announces a Non-brokered Private Placement - Video Posted on InvestmentPitch.com\n\nVancouver, British Columbia--(Newsfile Corp. - April 5, 2013) - Kivalliq Energy \n(TSXV: KIV) announces a non-brokered private placement, intending to raise gross \nproceeds of $4.5 million, through the issuance of 15 million units at a price of \n$0.30 per unit. Each unit consists of one common share and one whole warrant, \nwhich will allow the holder to acquire an additional common share at a price of \n$0.50 for 2 years.\nInvestmentPitch.com has produced a \"video news alert\" \nabout Kivalliq Energy. If this link is not enabled, please visit \n www.InvestmentPitch.com and enter \"Kivalliq\" in the search box.\n\nIf you cannot view the video above, please visit: http://www.investmentpitch.com/video/0_wx7p6pu9/Kivalliq-Energy-TSXV-KIV-Announces-Non-brokered-Private-Placement\nKivalliq Energy, a Vancouver-based uranium exploration company, \nwas the first company in Canada to sign a comprehensive agreement with the Inuit \nof Nunavut to explore for uranium on Inuit owned lands\nIt is currently advancing Canada's highest grade uranium \ndeposit outside of Saskatchewan's Athabasca Basin. The company's flagship \nproject, the 340,000 acre Angilak Property in Nunavut Territory, hosts the Lac \n50 Trend.\nSince acquiring the property in 2008 the company has invested \napproximately $50 million conducting systematic exploration, including: ground \nand airborne geophysics, geological mapping; prospecting, and over 87,500 metres \nof diamond and reverse circulation drilling. The company has filed a NI 43-101 \ntechnical report, which shows an Inferred Resource of 2,831,000 tonnes grading \n0.69% U3O8, totaling 43.3 million pounds U3O8. \nKivalliq intends to use the net proceeds of the offering to \nfully fund the first phase of its 2013 exploration program and for general \nworking capital purposes. The budget for phase one has been adjusted to $4 \nmillion from $8 million and includes high priority drilling and geophysical \nactivities in key areas that must be completed before break-up sometime in June.\nSince 2010 the company has discovered 10 new uranium zones \nwithin the Lac 50 Trend. Pending results and market conditions, Kivalliq will \ncontinue the second phase of the proposed 2013 Exploration Program at Angilak, \nwith addi...