K92 Mining announces $10M private placement

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By CPE News

Vancouver (pcJ News Briefs) – K92 Mining Inc. (TSX-V: KNT; OTCQB: KNTNF) has arranged a non-brokered private placement of up to 13,333,333 units at $0.75 per unit for gross proceeds of up to $10,000,000

Each unit will consist of one common share and one common share purchase warrant exercisable for one common share at a price of $1.00 for a period of 12 months from the date of issuance.

The financing is intended to be completed within the next 10 days. Finders’ fees may be paid in connection with the financing as K92 may engage certain finders to assist in locating investors for the financing.

Proceeds will be used for grade control, expansion and exploration drilling, work on the underground incline drive to Kora and for general corporate purposes.

photo credit: K92 Mining