Non-brokered offering will fund project work, general working capital
By Devika Patel
Knoxville, Tenn., June 20– Kootenay Silver Inc. said it amended the terms of a C$2.5 million non-brokered private placement of units. The deal priced on May 16.
The company will now sell 8.33 million units of one common share and one warrant at C$0.30 per unit. It previously planned to sell 7.35 million units at C$0.34 per unit.
Each warrant is exercisable at C$0.55, decreased from C$0.60, for two years. The strike price is a 71.88% premium to the May 15 closing share price of C$0.32.
Proceeds will be used for work on the company’s properties and general working capital.
Kootenay is a silver exploration company based in Vancouver, B.C.
| Issuer: | Kootenay Silver Inc.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$2.5 million
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| Units: | 8.33 million
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| Price: | C$0.30
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.55
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| Agent: | Non-brokered
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| Pricing date: | May 16
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| Amended: | June 20
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| Stock symbol: | TSX Venture: KTN
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| Stock price: | C$0.32 at close May 15
|
| Market capitalization: | C$19.47 million
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