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Kestrel Gold Inc

Kestrel Gold closes final tranche of placing; brings in total of C$375,000

As reported last week, the resource group closed the first tranche, raising gross proceeds of C$295,000

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Kestrel raised total gross proceeds of C$375,000, it said

Kestrel Gold Inc (CVE:KGC) said it had closed the final tranche of its previously announced private placing, raising total gross proceeds of C$375,000.

As reported last week, the resource group closed the first tranche, raising gross proceeds of C$295,000.

The latest tranche saw an additional 1.6mln units issued at 5 cents each, for gross proceeds of C$80,000.

"The aggregate gross proceeds from the first tranche and the final tranche of the private placement is C$375,000, which represents the issuance of an aggregate total of 7.5mln units," Kestrel said in a regulatory statement today.

"The net proceeds, after deducting the finder's fees of C$12,800, will be used for exploration activities in the amount of C$35,000 and for general working capital in the amount of C$327,200."

Each unit consisted of one share and one share purchase warrant, with each warrant entitling the holder to buy one share for five cents per warrant share, at any time until 4 March 2020.

Quick facts: Kestrel Gold Inc

Price: $0.02

Market: TSX-V
Market Cap: $1.35 m
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