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Provider: Reuters Investment Profile
Provider: GlobalData
Provider: GlobalData
Provider: GlobalData

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Kilo Goldmines Ltd Completes $10 Million Unit Offering

Wednesday, 20 Mar 2013 09:21am EDT 

Kilo Goldmines Ltd announced that it has completed its previously announced short form prospectus offering of units (the Units) raising gross proceeds of $10 million. The Company has issued and sold, through GMP Securities L.P., Clarus Securities Inc. and Byron Capital Markets Ltd. (collectively, the Agents), 100,000,000 Units at a price of $0.10 per Unit. Each Unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at a price of $0.15 for a period of three years from the date of closing of the offering. Directors and officers of the Company acquired an aggregate of 870,000 Units under the offering. In connection with the offering, the Agents have been granted 2,926,650 non-transferable warrants (Agents Warrants) to purchase common shares. Each Agents' Warrant entitles the holder to acquire one common share at a price of $0.10 for a period of two years from the closing of the offering. The Company intends to use the net proceeds from the offering to fund further exploration of the Company's Somituri gold property in the Democratic Republic of Congo and for working capital and general corporate purposes. 

Company Quote

18 Nov 2014