Kootenay Announces $4 Million Non-brokered Private Placement
Kootenay Silver Inc. (TSXV: KTN) announces a non-brokered private placement of up to $4,000,000 consisting of 20,000,000 Units at a price of $0.20 per Unit. A non-solicited lead order of $2,000,000 has been received from a well-known gold mining fund on a fully subscribed Private Placement basis.
Each Unit shall consist of one common share and one-half of a transferable common share purchase warrant. Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.30 for a period of 36 months immediately following the closing date of the Private Placement. A finderâ€™s fee of 6% shall be paid at the election of the Company in cash or Common Shares, of the portion of the proceeds raised in the Private Placement through the efforts of armâ€™s length finders.
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