pcNewsWire – Kstrel Gold Inc. (TSX-V: KGC) has closed a non-brokered private placement of 6,000,000 units at $0.10 per unit for gross proceeds of $600,000.
Proceeds will be to pay finders’ fees of $37,560, for exploration activities in the amount of $315,000 and up to $247,440 for general working capital.
News Release
KESTREL GOLD INC. ANNOUNCES CLOSING OF PRIVATE PLACEMENT
June 22, 2017: Mr. Kevin Nephin, President and CEO of Kestrel Gold Inc. (the “Corporation” or “Kestrel”) (TSX-V: KGC) is pleased to announce that the Corporation has closed its nonbrokered private placement (the “Private Placement”) of 6,000,000 units of the Corporation (the “Units”) at a price of $0.10 per Unit, for gross proceeds of $600,000. Each unit consists of one common share (“Common Share”) and one common share purchase warrant (“Warrant”), each Warrant entitling the holder to purchase one common share of the Corporation (the “Warrant Share”) at a price of $0.15 per Warrant Share, at any time until June 21, 2019. The Common Shares and Warrants are subject to a statutory four month hold period, which expires October 22, 2017.
Finder’s fees were paid in cash in the amount of 8% of the gross proceeds and in Finder’s Warrants in the amount equal to 8% of the number of Units sold to subscribers who have been introduced to the Corporation by the Finder.
The proceeds of the private placement will be to pay finders’ fees of $37,560, for exploration activities in the amount of $315,000 and up to $247,440 for general working capital.
About Kestrel Gold Inc.
Kestrel Gold Inc. holds a 100% interest in the King Solomon’s Dome project and has options to earn a 100% interest in four gold projects totaling approximately 5,700 hectares located within the Yukon portion of the Tintina Gold Belt, as well as four copper-gold projects in British Columbia, Canada, north of the Red-Chris copper-goldmine, totaling approximately 7,200 hectares. Numerous mineralized occurrences exist on these various properties and each has an excellent data base from previous work. Kestrel’s proposed 2017 work programs will focus on further enhancing the value of these projects.
For further information contact:
Kevin Nephin, President and CEO
Office (604) 799-2456
kvnephin@gmail.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.
