Deal funds exploration at the Kombat Mine and general working capital
By Devika Patel
Knoxville, Tenn., Dec. 17 – Kombat Copper Inc. said it has postponed a C$3 million non-brokered private placement of units until early next year. The deal priced on Nov. 24 and was scheduled to be completed on Dec. 1.
The company will sell 42,857,142 units of one common share and one half-share warrant at C$0.07 per unit.
Each whole warrant is exercisable at C$0.12 for three years. The strike price reflects a 100% premium to the Nov. 21 closing share price of C$0.06.
Proceeds will be used for exploration at the Kombat Mine as well as for general working capital purposes.
The copper explorer is based in Vancouver, B.C.
| Issuer: | Kombat Copper Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 42,857,142
|
| Price: | C$0.07
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.12
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 24
|
| Stock symbol: | TSX Venture: KBT
|
| Stock price: | C$0.06 at close Nov. 21
|
| Market capitalization: | C$4.48 million
|
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