K92 Mining, Inc. Announces C$5,000,040 Marketed Offering
February 12 2018 - 4:36PM
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION
IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES.
K92 Mining, Inc. ("K92" or “KNT” or the "Company") (TSX
VENTURE:KNT) is pleased to announce that it has entered into an
agreement with Clarus Securities Inc. as lead agent on behalf of a
syndicate of agents (collectively, the “Agents”), whereby the
Agents will raise up to C$5,000,040 (the “Offering”) through an
Offering of up to 11,111,200 units of the Company (the “Units”) to
be priced at C$0.45 per Unit. Each Unit is comprised of one
common share in the capital of the Company (“
Common
Share”) and one half of one Common Share purchase warrant
(“
Warrant”), with each Warrant entitling the
holder to purchase one Common Share at an exercise price of $0.65
for 18 months following the completion of the Offering.
The proceeds raised from the offering will be
used by the company for the purchase of a gravity circuit for the
company’s processing facility at the Kainantu Gold Mine,
exploration and development of the company's mineral properties and
for general corporate purposes.
The Offering is scheduled to close on or about
March 5, 2018, and is subject to certain conditions including, but
not limited to, the receipt of all necessary approvals of the TSX
Venture Exchange. The securities to be issued under this Offering
will be offered by way of private placement exemptions in all the
provinces of Canada. The Units to be issued under this Offering
will also be offered offshore, including in the United Kingdom
pursuant to applicable exemptions and in the United States on a
private placement basis pursuant to exemptions from the
registration requirements of the United States Securities Act of
1933, as amended.
The securities referred to in this news release
have not been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or for the account or benefit of,
U.S. persons absent U.S. registration or an applicable exemption
from the U.S. registration requirements. This release does not
constitute an offer for sale of, nor a solicitation for offers to
buy, any securities in the United States. Any public offering
of securities in the United States must be made by means of a
prospectus containing detailed information about the issuer and its
management, as well as financial statements.
About K92K92 Mining
Inc is focused on advancing the Kainantu Gold
Mine, located in the Eastern Highlands province of Papua New
Guinea. The Kainantu property covers a total area of approx. 410
km2 and was previously mined by Highlands Pacific and Barrick
Gold from 2006-2009. K92 Mining Inc. was purpose built for the
acquisition of the Kainantu Gold Mine. In addition to targeting a
move towards production, K92 will focus on both expanding known
areas of mineralization and drilling high priority exploration
targets. K92 is led by an experienced team of industry
professionals with substantial international expertise in mining,
production start-ups, production re-starts, mineral exploration,
and finance.
For further information, please
contact:Mario VetroInvestor Relations+1
604 687 7130 ext. 200mvetro@k92mining.comwww.k92mining.com
Neither 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.
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