Kalimantan Gold Corporation Limited Kalimantan Gold Plans Private Placement
May 28 2015 - 02:07AM
UK Regulatory
TIDMKLG
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
Kalimantan Gold Corporation Limited (the "Company") is pleased to
announce that it plans to undertake a brokered private placement to
place up to 108,443,747 common shares at a price of GBP0.012 per share
for total gross proceeds of approximately GBP1.3 million (approximately
equivalent to CDN $2.5 million at CDN $0.023 per share). The Company has
received commitments from investors for 108,443,747 common shares to be
issued and settled in CREST. The participating investors include clients
of the Company's UK broker agents, VSA Capital Limited and Optiva
Securities Limited.
The private placement is subject to compliance with applicable
securities laws and to the receipt of regulatory approval. Insiders may
participate in the private placement and the Company will pay broker
fees in connection with the private placement in accordance with the
policies of the TSX Venture Exchange. The private placement will not be
conducted in North America and the shares placed will be settled through
CREST and as such the TSX Venture Exchange has granted a discretionary
waiver to its minimum pricing rules.
The Company will pay fees to brokers who introduced the Company to
private placement investors within the policies of the TSX Venture
Exchange.
It is intended that the proceeds of the private placement will be used
to fund the continuation of the Company's 2015 infill and expansion
drilling at the Company's Beruang Kanan prospect within the Company's
KSK Contract of Work in Kalimantan, on progressing conversion of the
Company's Beutong Izin Usaha Pertambangan ("IUP") from an exploration
IUP to an exploitation IUP and for general working capital purposes.
The placement shares will be fully paid and will rank pari passu in all
respects with the existing common shares in the Company. Application
has been made for the placement shares to be admitted to trading on AIM
("Admission") and to be listed on the TSX Venture Exchange. It is
expected that Admission will become effective and that dealings in the
placement shares will commence on June 3, 2015. The total number of
common shares in issue following completion of the placement will be
503,168,500.
ON BEHALF OF THE BOARD OF DIRECTORS
Tony Manini, Deputy Chairman and CEO
For further information please contact:
-Ends-
Tony Manini
Deputy Chairman and CEO, Kalimantan Gold
Telephone: + 61 3 8644 1300
Email: tony.manini@kalimantan.com
VSA Capital Limited
Andrew Raca / Richard Buckle
Telephone: +44 20 3005 5004 / +44 20 3005 5005
Email: araca@vsacapital.com
Optiva Securities Limited
Jeremy King
Telephone: +44 203 137 1904
Email: Jeremy.King@optivasecurities.com
Kalimantan Gold's Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Oliver Morse
Telephone: +61 8 9480 2500
Email: andrew.thomson@rfcambrian.com / Oliver.Morse@rfcambrian.com
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
United States Advisory
The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as amended
(the "U.S. Securities Act"), have been offered and sold outside the
United States to eligible investors pursuant to Regulation S promulgated
under the U.S. Securities Act, and may not be offered, sold, or resold
in the United States or to, or for the account of or benefit of, a U.S.
Person (as such term is defined in Regulation S under the United States
Securities Act) unless the securities are registered under the U.S.
Securities Act, or an exemption from the registration requirements of
the U.S. Securities Act is available. Hedging transactions involving the
securities must not be conducted unless in accordance with the U.S.
Securities Act. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy any securities, nor shall there
be any sale of securities in the state in the United States in which
such offer, solicitation or sale would be unlawful.
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Kalimantan Gold Corporation Limited via Globenewswire
HUG#1924449
http://www.kalimantan.com