Killdeer Minerals Announces Closing of Financing With MineralFields Group
December 14 2009 - 9:44AM
Marketwired
Killdeer Minerals Inc. (TSX VENTURE: KMI) ("Killdeer" or the
"Company") is pleased to announce that it has completed the private
placement (the "Financing") with MineralFields Group to raise gross
proceeds of $700,000.
Under the terms of the Financing, Killdeer has issued 2,800,000
flow-through units (the "FT Units") at a price of $0.25 per FT
Unit. Each FT Unit consisted of one flow-through common share and
one-half of a transferable non flow-through common share purchase
warrant ("Warrants"). Each whole Warrant will entitle the holder to
purchase one additional non flow-through common share at an
exercise price of $0.35 per share until December 10, 2010, and
thereafter at $0.45 per share until December 10, 2011.
If the Company's shares close on the TSX Venture Exchange at any
time after April 11, 2010 for twenty consecutive trading days at a
price of $0.50 per share or higher until December 10, 2010, and
thereafter at a price of $0.65 per share or higher until December
10, 2011, then the Company may accelerate the expiry time to 30
calendar days from the date of express written notice delivered to
the Warrant holders by way of registered mail, or thereafter the
unexercised Warrants will be forfeited and terminated. The
securities issued are subject to a hold period expiring April 11,
2010.
About MineralFields, Pathway and First Canadian Securities ®
MineralFields Group (a division of Pathway Asset Management),
based in Toronto, Vancouver and Calgary, is a mining fund with
significant assets under administration that offers its
tax-advantaged super flow-through limited partnerships to investors
throughout Canada as well as hard-dollar resource limited
partnerships to investors throughout the world. Pathway Asset
Management also specializes in the manufacturing and distribution
of structured products and mutual funds (including the Pathway
Multi Series Funds Inc. corporate-class mutual fund series).
Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities ® is active in
leading resource financings (both flow-through and hard dollar PIPE
financings) on competitive, effective and service-friendly terms,
and offers investment banking, mergers and acquisitions, and mining
industry consulting, services to resource companies. MineralFields
and Pathway have financed several hundred mining and oil and gas
exploration companies to date through First Canadian Securities
®.
KILLDEER MINERALS INC.
Mike Elson, President & Chief Executive Officer
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 news release.
Contacts: Killdeer Minerals Inc. Stan Szary Director (604)
685-6989 (604) 685-6961 (FAX) www.killdeerminerals.com