By Devika Patel
Knoxville, Tenn., Sept. 4 - Kria Resources Ltd. said it completed a C$2.5 million private placement of stock with Xstrata Canada Corp.
The company sold 10,416,666 shares at C$0.24 per share to Xstrata. Xstrata also received warrants for 5,208,333 shares, which are exercisable at C$0.24 for four years.
Xstrata now holds 13,916,666 shares and 6,958,333 warrants. If each of the warrants were exercised, Xstrata would hold approximately 32% of the company's outstanding shares.
Based in Toronto, Kria explores for minerals.
| Issuer: | Kria Resources Ltd.
|
| Issue: | Shares
|
| Amount: | C$2.5 million
|
| Units: | 10,416,666
|
| Price: | C$0.24
|
| Warrants: | For 5,208,333 shares
|
| Warrant expiration: | Four years
|
| Warrant strike price: | C$0.24
|
| Investor: | Xstrata Canada Corp.
|
| Settlement date: | Sept. 4
|
| Stock symbol: | TSX Venture: KIA
|
| Stock price: | C$0.20 at close Sept. 4
|
| Market capitalization: | C$1.59 million
|
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