By Laura Lutz
Des Moines, April 30 - Kirkland Lake Gold Inc. settled its previously announced private placement for C$11 million, a C$5 million increase over the deal size announced on April 18.
The company sold 887,146 shares at C$12.40 each.
Sprott Asset Management invested C$5 million in the deal, a Dynamic Mutual Fund invested C$5 million, and a director of the company invested C$1 million.
The placement priced on April 18 as C$6 million offering including only the investments by Sprott and the director.
Proceeds will be used for working capital and development of the company's mining operations.
Kirkland is a gold exploration company based in Kirkland Lake, Ont.
| Issuer: | Kirkland Lake Gold Inc.
|
| Issue: | Shares
|
| Amount: | C$11 million
|
| Shares: | 887,146
|
| Price: | C$12.40
|
| Warrants: | No
|
| Investors: | Sprott Asset Management (for C$5 million), a Dynamic Mutual Fund (for C$5 million)
|
| Pricing date: | April 18
|
| Settlement date | April 30
|
| Stock symbol: | Toronto: KGI
|
| Stock price: | C$12.50 at close April 18
|
| Stock price: | C$13.10 at close April 30
|
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