By Sheri Kasprzak
New York, July 5 - Kalimantan Gold Corp. priced a C$2.5 million private placement.
The non-brokered offering includes up to 12.5 million units at C$0.20 apiece.
The units are comprised of one share and one warrant. The warrants are exercisable at C$0.30 each for two years.
Proceeds will be used for a drill program at the Jelai Mewet gold prospect, for exploration and for general corporate purposes.
Located in Vancouver, B.C., Kalimantan is a gold exploration company.
| Issuer: | Kalimantan Gold Corp.
|
| Issue: | Units of one share and one warrant
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| Amount: | C$2.5 million
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| Units: | 12.5 million
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| Price: | C$0.20
|
| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.30
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| Placement agent: | Non-brokered
|
| Pricing date: | July 4
|
| Stock symbol: | TSX Venture: KLG
|
| Stock price: | C$0.23 at close July 4
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