Kootenay Silver completes CAD$ 4 million financing

Kootenay Silver Inc. {TSX.V: KTN}  announced that further to its press releases dated November 15, 2017 and December 14, 2017, it has closed the final tranche of its non-brokered private placementand has issued an aggregate total of 20,094,480 units at a purchase price of $0.20 per Unit for total gross proceeds to the Company of $4,018,896.

 

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Kootenay completes their CAD$ 4 million placing.

 

Mr. James McDonald reports:

VANCOUVER, Jan. 8, 2018 /CNW/ – Kootenay Silver Inc. {TSX.V: KTN} is pleased to announce that further to its press release dated November 15, 2017 and December 14, 2017, it has closed the final tranche of its non-brokered private placement (the “Private Placement”) and has issued an aggregate total of 20,094,480 units (each a “Unit”) at a purchase price of $0.20 per Unit for total gross proceeds to the Company of $4,018,896.

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The final tranche raised $109,000 by issuing 545,000 Units. Each Unit consists of one common share (“Common Share”) and one-half of a transferable common share purchase warrant (each whole warrant a “Warrant”). Each Warrant issued in the final tranche entitles the holder to acquire one Common Share at an exercise price of $0.30 per share until January 5, 2021.

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The net proceeds of the Private Placement will be used to fund the exploration and development of the Company’s La Cigarra project in Chihuahua State, Mexico, possible new acquisitions and for general working capital purposes.

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All securities issued pursuant to the Private Placement are subject to a four month hold period under applicable securities laws in Canada, ending on May 6, 2018.