Kootenay Silver (KTN-V)
www.kootenaysilver.com
62.7 million o/s
$7 million cash (as of Dec 31, 2013)
Key people
James M. McDonald, PGeo – President & CEO
Co-founded and successfully developed National Gold (which merged with Alamos Minerals) to form Alamos Gold for which he was a Director and served on numerous committees until June 2012 and White Knight Resources. Mr. McDonald served as President of Genco Resources whilst it operated the La Guitarra Mine, an underground silver mine located in Mexico. Mr. McDonald, P. Geo., is the company's qualified person under National Instrument 43-101.
Dr.Tom Richards, BSc, PhD – VP of Exploration
An accomplished author and co-author of numerous publications involved in the science of Geology through central British Columbia. Dr Richards was a Research Scientist with the Geological Survey of Canada during the 1970's doing regional mapping in British Columbia. He conducted regional exploration in Canada, United States and Mexico to the early 1990's as an independent geologist/prospector with Junior and Major mining companies (including Teck, Inco, Esso, Newmont, Falconbridge and Union Carbide) and throughout NW Argentina until 2007. He has been involved with Kootenay Gold in Mexico from 2007 to present.
Kootenay Silver closes financing with Agnico-Eagle
April 26, 2013 - News Release
Kootenay Silver Inc. has closed a $4.75-million private placement with Agnico-Eagle Mines Ltd. previously announced by the company on April 23, 2013. A total of 6.25 million units at a purchase price of 76 cents per unit were issued to Agnico-Eagle pursuant to the private placement, with each unit consisting of one common share in the capital of the company and one-half of one transferrable common share purchase warrant. Each warrant entitles Agnico-Eagle to acquire one common share at an exercise price of $1.08 until April 26, 2015. All of the securities issued pursuant to the private placement are subject to a hold period until Aug. 27, 2013.
As a result of its participation in the private placement, Agnico-Eagle now owns 9.96 per cent of Kootenay's issued and outstanding common shares on a non-diluted basis (14.23 per cent if Agnico-Eagle exercises all of the warrants). Agnico-Eagle also has a participation right until April 26, 2015, pursuant to which, provided that Agnico-Eagle owns at least 5 per cent of the then issued and outstanding common shares of Kootenay (taking into account convertible securities owned by Agnico-Eagle), it has the right to participate in certain equity offerings of the company on the same terms as other participants in such offerings in order to maintain its pro rata ownership interest in the company.
|
