Kaminak Gold (KAM-V) March 11, '15 is pleased to announce that the Company has closed the bought deal private placement financing announced on February 18, 2015, which was co-led by Cormark Securities Inc. and Raymond James Ltd. and included BMO Nesbitt Burns Inc., Canaccord Genuity Corp., National Bank Financial Inc., Beacon Securities Limited, Euro Pacific Canada Inc., Paradigm Capital Inc. and Mackie Research Capital Corporation.
The Company issued 12,223,000 common shares ("Common Shares") at a price of $0.90 per Common Share and 8,696,000 common shares, which qualify as "flow-through" shares for purposes of the Income Tax Act (Canada) ("Flow-Through Shares") at a price of $1.15 per Flow-Through Share, for aggregate gross proceeds to the Company of $21,001,100.
The Company intends to use the net proceeds from the sale of the Common Shares primarily to fund the exploration and development of the Company's Coffee Gold Project (the "Coffee Gold Project") located in Yukon, Canada and for general corporate and working capital purposes. The gross proceeds received by the Company from the sale of the Flow-Through Shares will be used to incur Canadian Exploration Expenses that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the Coffee Gold Project.
In connection with the Offering, the Underwriters received a cash commission on the sale of the Common Shares and the Flow-Through Shares, of up to 4.5% of the aggregate gross proceeds raised. The securities issued under the Offering are subject to a hold period which will expire four months and one day from the date of closing, being July 12, 2015.
On behalf of the Board of Directors of Kaminak
Eira Thomas, President and CEO
Kaminak Gold Corporation
Tony Reda
Vice-President of Corporate Development
Toll free 1.888.331.2269 or 604.646.4534
info@kaminak.com
www.kaminak.com |
