- Final approvals for $4.52m
non-brokered private placement
- Total ordinary shares outstanding of 64,611,807
VANCOUVER, Aug. 22, 2017 /CNW/ - Kincora Copper Ltd.
(the "Company", "Kincora") (TSXV:KCC) has received acceptance from
the TSX Venture Exchange (the "TSXV") for a private placement (the
"Private Placement") consisting of 13,711,174 Units at $0.33 per Unit (gross proceeds of $4,524,687).
As per the Company's August
8th, 2017 press release, each Unit is comprised
of one common share (the "Shares") and one-half of a share purchase
warrant with each whole warrant (the "Warrants") entitling the
holder to acquire a further Share at C$0.445 for a period of two years.
The Company announces the issuance of 166,739 shares (the
"Services Shares"), 70,312 at a deemed price of $0.48 per share and 96,427 at a deemed price of
$0.35 per share, to certain
directors, officers and advisors on account of services rendered
during the period January 1, 2017 to
June 30, 2017.
The Company also announces the issuance of 127,272 shares (the
"Debt Shares") at a deemed price of $0.33 per share to settle outstanding
payables.
Kincora has granted to directors, officers and certain service
providers a total of 1,425,929 stock options under the Company's
stock option plan. The options have a two-year term from issuance
date being exercisable at a price of $0.445 per share. The options will vest over a
four-month period from the issuance date.
All new Shares and Warrants issued are subject to a 4-month hold
period. Following these issuances, Kincora has 64,611,807 issued
shares, a total of 10,168,580 warrants and 6,461,181 stock options
outstanding.
About Kincora
Kincora is a junior resource company engaged in
the acquisition, exploration and development of mineral properties,
with a focus on copper-gold projects in Mongolia. For further information:
www.kincoracopper.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.
SOURCE Kincora Copper Limited