- Kootenay Silver (KTN) has announced a private placement of units of the company for gross proceeds of up to $4,000,000
- Research Capital Corporation is acting as the lead agent and sole bookrunner
- Net proceeds will be used for working capital requirements and other general corporate purposes
- The offering is scheduled to close on or about November 7, 2022
- Kootenay Silver Inc. is an exploration company actively engaged in the discovery and development of mineral projects in the Sierra Madre Region of Mexico
- Kootenay Silver Inc. opened trading at $0.11 per share
Kootenay Silver (KTN) has announced a private placement for gross proceeds of up to $4,000,000.
Each unit will be made up of one common share of the company and one common share purchase warrant.
Each warrant shall be exercisable to acquire one common share at a price of $0.15 per warrant share for a period of 36 months from the closing of the offering.
Research Capital Corporation is acting as the lead agent and sole bookrunner on behalf of a syndicate of agents, including Red Cloud Securities.
The agents will have the option to sell up to an additional 15 per cent of the units sold in the offering exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the offering.
Kootenay Silver plans to use the net proceeds from the offering for working capital requirements and other general corporate purposes.
The offering is scheduled to close on or about November 7, 2022.
The units to be issued under the offering will have a hold period of four months and one day from closing.
In connection with the offering, the agents will receive an aggregate cash fee equal to 6.0 per cent of the gross proceeds from the offering, including in respect of any exercise of the agents’ option.
Kootenay Silver Inc. is an exploration company actively engaged in the discovery and development of mineral projects in the Sierra Madre Region of Mexico.
Kootenay Silver Inc. opened trading at $0.11 per share.