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Provider: Reuters Investment Profile
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Kesselrun Resources Ltd Completes Private Placement Financing


Wednesday, 7 Nov 2012 08:05am EST 

Kesselrun Resources Ltd announced that it has closed the brokered private placement financing (the Offering) previously announced Oct. 3, 2012. Kesselrun issued 2,010,000 Units (the Units) at a price of C$0.50 per Unit for gross proceeds of $1,005,000.00. Each Unit is comprised of one common share (a "Share") and one-half of one Share purchase warrant. Each whole warrant is exercisable into an additional Share at a price of $0.75 per Share for a period of two years expiring Nov. 06, 2014. All securities issued under the Offering are subject to a hold period under securities law of four months and a day from the date hereof, which will expire on March 7, 2013. Proceeds from the private placement will be used to fund continued exploration and commence the initial drilling program at its Bluffpoint project in Ontario, as well as for working capital purposes. Bayfront Capital Partners Ltd. acted as the agent on the Offering. 

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29 Sep 2014