pcNewsWire – Makena Resources Inc. (TSX-V: MKNA; FSE: A1KB6R; OTCGM: CANSF) intends to undertake a private placement financing of up to 14,583,333 units at $0.12 per unit for gross proceeds of up to $1,750,000.
May 19, 2017
Trading Symbol: MKNA – TSX Venture Exchange; A1KB6R – Germany; CANSF – USA
Makena Announces Private Placement
Makena Resources Inc. (“Makena” or the “Company”) is pleased to announce it intends to undertake a private placement financing of up to 14,583,333 units (each a “Unit”) at a price of $0.12 per Unit for gross proceeds of up to $1,750,000. Each Unit will consist of one common share and one share purchase warrant (each, a “Warrant”), and each Warrant will entitle the holder to purchase one additional share at a price of $0.16 per share for a period of five years from closing of the financing.
All securities issued in the financing will be subject to a statutory hold period expiring four months and one day after closing of the financing. Completion of the financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the TSX Venture Exchange.
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Source: Makena Resources Inc.