Makena Resources closes $500K private placement




News Release

October 30, 2017
Trading Symbol:
MKNA – Canadian Securities Exchange
A1KB6R – Germany
CANSF – USA

Makena Closes Private Placement and Debt Settlement

Makena Resources Inc. (“Makena” or the “Company”) wishes to announce that it has closed a private placement of 4,166,667 units at $0.12 for gross proceeds of $500,000 (the “Offering”). Each unit consists of one common share and one transferable share purchase warrant exercisable at $0.16 until October 27, 2022.

There were finders’ fees, in aggregate, of $9,600 paid and 80,000 Brokers’ warrants issued in respect to the Offering. The Brokers’ warrants are exercisable into one common share each at $0.16 until October 27, 2022.

All securities issued in this offering are subject to a four-month hold period expiring February 28, 2018.

Proceeds of the Offering are expected to be used towards accounts payable, repayment of loans, exploration of properties and general working capital.

The Company also closed a debt settlement whereby $1,224,000 of outstanding cash loans and $4,340 of management fees were settled at a deemed price of $0.12 per unit. Each unit consists of one common share and one transferable share purchase warrant exercisable at $0.16 until October 27, 2022. All securities issued in this offering are subject to a four-month hold period expiring February 28, 2018.

As previously announced on September 28, 2017, the Company has closed a Purchase Agreement with an arms length party in respect to the Clone Gold Property.

If you would like to be added to Makena’s news distribution list please send your email address to makenaresourcesinc@gmail.com

Contact Information
Tel: 1.604.685.5150
Fax: 1(604) 689-1733
“Spencer Smyl”
Director