- K92 Mining (KNT) has closed its bought deal private placement for gross proceeds of $50,000,875
- The company issued issued 5,405,500 common shares priced at $9.25 per share
- Net proceeds will be used to fund continued exploration and expansion of the Kainantu Gold Mine in Papua New Guinea
- K92 is engaged in the production of gold, copper and silver from the Kora and Judd deposits at the Kainantu Mine
- K92 Mining Inc. (KNT) opened trading at C$7.58 per share
K92 Mining (KNT) has closed its previously announced bought deal private placement for gross proceeds of $50,000,875.
The company issued issued 5,405,500 common shares at a price of $9.25 per share.
The Offering was led by Clarus Securities Inc. and Cormark Securities Inc. as co-lead underwriters and co-bookrunners. The underwriters were paid a cash fee of 5.0 per cent of the gross proceeds.
The company has also granted to the underwriters an over-allotment option to purchase up to an additional 810,825 shares at any time until August 5, 2022.
Net proceeds will be used to fund continued exploration and expansion of the Kainantu Mine in Papua New Guinea.
K92 is engaged in the production of gold, copper and silver from the Kora and Judd deposits at the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine.
K92 Mining Inc. (KNT) opened trading at C$7.58 per share.