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July 11, 2019 08:46 ET | Source: K92 Mining, Inc.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
TORONTO, July 11, 2019 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (“K92” or “KNT” or the “Company”) (TSXV: KNT; OTCQB: KNTNF) is pleased to announce that it has entered into an agreement with Clarus Securities Inc. as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the “Underwriters”) to purchase, on a bought deal private placement basis, 9,474,000 common shares in the capital of the Company (the “Common Shares”) at a price of $1.90 per Common Share (the “Issue Price”), for aggregate gross proceeds of $18,000,600 (the “Offering”). The Company has also granted to the Underwriters an option to purchase an additional 1,421,100 Common Shares at the Issue Price, exercisable by the Underwriters, in whole or in part, for a period of up to two days prior to the closing of the Offering for additional gross proceeds of up to $2,700,090.
The Company plans to use the net proceeds of the Offering for general corporate and working capital purposes.
The Offering is scheduled to close on or about July 30, 2019, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the acceptance by the TSX Venture Exchange. The securities to be issued under this Offering will be offered by way of private placement exemptions in all the provinces of Canada, and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.
https://www.globenewswire.com/news-release/2019/...Fq0orJNgtZuTkkzgRk