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Kivalliq Energy Announces $4.5 Million Financing
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITE...
About this update from Valore Metals Corp.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nVANCOUVER, April 2, 2013 /CNW/ - Kivalliq Energy Corporation (\"KIV: TSX-V\" Kivalliq\") today announced a non-brokered private placement financing to raise\n gross proceeds of CDN $ $4,500,000.\n\n\nThe financing will consist of approximately 15 million units (\"Units\"),\n at a price of $0.30 per Unit (the \"Offering\").  Each Unit consists of\n one common share and one whole warrant. Each whole warrant will allow\n the holder to acquire an additional common share of Kivalliq at a price\n of $0.50 per share for a period of two years following the date of\n closing.\n\n\nKivalliq intends to use the net proceeds of the Offering to fully fund\n the first phase of its 2013 Exploration Program at the Angilak Property\n in Nunavut, Canada and for general working capital purposes. The budget\n for phase one has been adjusted to $4 million from $8 million (see news\n release dated February 5, 2013) and includes high priority drilling and\n geophysical activities in key areas that must be completed before\n break-up sometime in June. Pending results and market conditions,\n Kivalliq will continue the second phase of the proposed 2013\n Exploration Program at Angilak, with additional core drilling and\n geophysical, geological, geochemical and engineering surveys in the\n field.\n\n\nThe completion of the Offering is subject to TSX Venture Exchange\n approval.  The securities issued by Kivalliq in connection with the\n Offering will be subject to a four month \"hold period\" as prescribed by\n the TSX Venture Exchange and applicable securities laws. A portion of\n the Offering may be subject to finders' fees.\n\n\nThe Offering is being made pursuant to prospectus exemptions in all\n provinces of Canada and in other jurisdictions as may be determined by\n Kivalliq. The securities offered have not been registered under the\n U.S. Securities Act of 1933, as amended, and may not be offered or sold\n in the United States absent registration or an applicable exemption\n from the registration requirements. This press release shall not\n constitute an offer to sell or the solicitation of an offer to buy nor\n shall there be any sale of the securities in any jurisdiction in which\n such offer, solicitation or sale woul...