West Kirkland (WKM-V) increases placement to $5.6-million from $5 million
Jan 24, 2013 - News Release
West Kirkland Mining Inc. has agreed with Cormark Securities Inc. and PI Financial Corp. to increase the size of the offering of units for sale, as announced on Jan. 18, 2013, on a best-efforts agency basis, by 2.4 million units ($600,000), up to 22.4 million units of the company at a price of 25 cents per unit for gross proceeds of up to $5.6-million. Each unit will consist of one common share in the capital of the company and one share purchase warrant. Each warrant will entitle the holder to acquire one common share at a price of 40 cents for a period of one year following the closing date.
The company will pay the agents a cash commission equal to 7 per cent of the gross proceeds of the offering. Closing of the offering is anticipated to occur, as previously announced, on or before Feb. 7, 2013, and is subject to receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.
The net proceeds of the offering will be used for exploration activities on the company's properties and for general corporate purposes.
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