Killdeer Minerals Announces Closing of Financing With MineralFields Groupadmin
Killdeer Minerals Inc. announce that it has completed the private placement with MineralFields Group to raise gross proceeds of $700,000.
Under the terms of the Financing, Killdeer has issued 2,800,000 flow-through units (the “FT Units”) at a price of $0.25 per FT Unit. Each FT Unit consisted of one flow-through common share and one-half of a transferable non flow-through common share purchase warrant (“Warrants”). Each whole Warrant will entitle the holder to purchase one additional non flow-through common share at an exercise price of $0.35 per share until December 10, 2010, and thereafter at $0.45 per share until December 10, 2011.
If the Company’s shares close on the TSX Venture Exchange at any time after April 11, 2010 for twenty consecutive trading days at a price of $0.50 per share or higher until December 10, 2010, and thereafter at a price of $0.65 per share or higher until December 10, 2011, then the Company may accelerate the expiry time to 30 calendar days from the date of express written notice delivered to the Warrant holders by way of registered mail, or thereafter the unexercised Warrants will be forfeited and terminated. The securities issued are subject to a hold period expiring April 11, 2010.