By Sheri Kasprzak
New York, June 7 - Kirkland Lake Gold Inc. said the greenshoe on its previously announced private placement was exercised, bringing the total proceeds raised in the offering to C$16,500,200.
The company sold a total of 1,793,500 units at C$9.20 each, including the over-allotment option for 20,000 units.
The units consist of one share and one half-share warrant with each whole warrant exercisable at C$10.50 for one year.
The non-brokered offering priced on May 11 as a C$15 million deal comprised of 1,630,435 units. It was closed for an oversubscribed amount of C$16,316,200 on May 25.
The proceeds will be used for development on the company's Kirkland Lake, Ont., mineral properties.
Based in Kirkland Lake, Ont., Kirkland Lake is a gold exploration company.
| Issuer: | Kirkland Lake Gold Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$16,500,200
|
| Units: | 1,793,500 (includes greenshoe for 20,000 units)
|
| Price: | C$9.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$10.50
|
| Pricing date: | May 11
|
| Settlement date: | May 25
|
| Greenshoe exercised: | June 7
|
| Stock symbol: | Toronto: KGI
|
| Stock price: | C$9.44 at close May 11
|
| Stock price: | C$7.94 at close May 24
|
| Stock price: | C$7.83 at close June 6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
