WKG-V pretty close to breaking out in new territory...
Aug 21, '14 - NR
Westkam Gold Corp. has amended and closed its previously announced non-brokered private placement. The private placement has been increased by $362,065 from the original announcement. A total of 16,639,633 units of the company were subscribed, consisting of 3,008,333 flow-through units at a price of six cents per unit for gross proceeds of $180,500 and 13,631,300 non-flow-through units at a price of five cents for gross proceeds of $681,565. The flow-through units consist of one flow-through common share and one common share purchase warrant exercisable at a price of seven cents in years one and two following the close of the private placement, and at a price of 10 cents in years three through five following the close of the private placement. The units consist of one common share and one common share purchase warrant exercisable at a price of five cents in years one and two following the close of the private placement, and at a price of 10 cents in years three through five following the close of the private placement. Proceeds arising from the sale of the flow-through units will be used to advance the Bonaparte gold project. Proceeds arising from the sale of the non-flow-through units will be used for general working capital purposes.
The company will pay $32,800 and issue 656,000 warrants, exercisable for a period of five years at a price of 10 cents per warrant share, to certain introducing parties in respect of the private placement, subject to compliance with applicable securities legislation and TSX Venture Exchange policies. The private placement is subject to the approval of the TSX-V.
Stock options granted
Westkam also announces that announces that, pursuant to the company's stock option plan, it has granted a total of 4.3 million incentive stock options to directors, officers and consultants of the company. The options are exercisable at a price of five cents per option share until Aug. 19, 2019. |
