Sign up USA
Proactive Investors - Run By Investors For Investors

Kincora Copper closes C$532,584 private placement

Kincora Copper has closed its non-brokered private placement for gross proceeds of C$532,584 through the issuance of 1,543,720 shares at a price of 34.5 cents per share, the company said on Wednesday
Kincora Copper closes C$532,584 private placement
No loose ends as Kincora raises C$532K

Kincora Copper (CVE:KCC) has closed its non-brokered private placement for gross proceeds of C$532,584 through the issuance of 1,543,720 shares at a price of 34.5 cents per share, the company said on Wednesday.

Alongside the closing of the non-brokered price placement, 186,831 shares have been issued to HPX Techco Inc., an affiliate of High Power Ventures, on account of loans made in the course of the IBEX transaction.

Proceeds from the offering will be applied to the advancing Kincora's exploration portfolio, which includes a unique multitarget, multistage pipeline, between and on strike from Rio Tinto's (NYSE:RIO) largest global expansion project, the Oyu Tolgoi mine, and the Tsagaan Suvarga Serven Sukhait development project in the southern Gobi, Mongolia, and for working capital.

All shares issued are subject to a four-month hold period expiring on April 21, 2017.

"The raising and conversion of a small loan to HPX into equity caps off a busy period. Since last month, we closed the IBEX transaction to consolidate the dominant regional landholding in the southern Gobi copper belt, announced our new team with an exceptional track record with Tier 1 porphyries, concluded field season activities, and started outlining our priority exploration targets and strategy to create value for shareholders,” said Sam Spring, president and chief executive officer.

The company paid finder's fees of $4,201 in connection with the offering.

Kincora shares were up 9% at C$0.42 on Wednesday.

View full KCC profile View Profile

Kincora Copper Timeline

Related Articles

picture of copper wire
May 09 2017
RMM is continuing to move in the right direction operationally.says Cantor
Marble lobby
June 07 2017
Has Fox Marble finally turned the corner? Recent news flow has been positive and Mother Nature seems to have taken the company off her hit list.
Gold-bar-plus-nugget.jpg
June 14 2017
Ortac will increasingly turn its focus to Africa as work on Misisi continues.
Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use