Knight Resources Ltd.: $2,750,000 Private Placement
11 Novembre 2009 - 3:00PM
Marketwired
Mr. David Patterson, Chairman of Knight Resources Ltd. (TSX
VENTURE: KNP)(FRANKFURT: KRL), announces that the Company is
undertaking a non-brokered private placement in an amount of
$2,750,000. The private placement will consist of 34,375,000
flow-through units ("FT Unit") at a price of $0.08 per FT Unit.
Each FT Unit will consist of one flow-through common share and one
half of one common share purchase warrant. Each whole warrant
entitles the holder to acquire one non-flow-through common share at
a price of $0.12 per share for a period of 12 months.
However, in the event the closing price of the Company's common
shares on the Exchange is at least $0.25 for ten consecutive
trading days (at any time following four months from the date of
Closing) the Company may reduce the remaining exercise period of
the Warrants to not less than 30 days from the date of providing
notice of such reduced exercise period.
The funds raised by way of the financing will be used for
exploration of the West Raglan Project, located in northern
Quebec.
Fees and commissions will be payable in connection with the
private placement. The private placement is subject to the approval
of the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF KNIGHT RESOURCES LTD.
David Patterson, Chairman
Contacts: Knight Resources Ltd. David Patterson Chairman (604)
684-6535 or Toll Free: 1-877-KNIGHT5 (604) 602-9311 (FAX)
knight@bed-rock.com www.knightresources.ca
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