Calgary (pcJ News Briefs) – Kestrel Gold Inc. (TSX-V: KGC) has closed its non-brokered private placement of 16,666,666 units at a price of $0.03 per unit for gross proceeds of $500,000.
Each unit consists of one common share and one common share purchase warrant entitling the holder to purchase one common share at a price of $0.05 per share, at any time until April 3, 2020.
Net proceeds will be used to carry out an exploration program on the King Solomon Dome project located in the Yukon, to pay for the next six months operating costs, for legal fees and to repay loans, in the amount of $145,000 made by two of the corporation’s directors.
Kestrel Gold Inc. is a gold exploration company. Its principal property is the King Solomon Dome property, located in the Dawson Mining District, Yukon Territory, Canada.
photo credit: Kestrel Gold