Kesselrun To Raise $8.0 Million In Private Placement

Kesselrun Resources (TSXV: KES) this morning announced that it will be raising $8.0 million via a private placement. The financing is slated to consist of both flow through and non flow through units through a non-brokered financing.

Funds raised are to be split equally between flow through and non flow through units. The financing will see the non flow through units sold at a price of $0.40 per unit, with each unit containing one common share and one half warrant. Each warrant is valid for 24 months from the date of issue, with an exercise price of $0.70 per share. It is currently expected that 10.0 million non flow through units will be sold.

Flow through units meanwhile will be sold at a price of $0.45 per unit, with 8.9 million units expected to be issued under the financing. Each unit contains one flow through common share as well as one half of a common share purchase warrant. Each warrant, similar to the non flow through units, is valid for a period of 24 months from the date of issue with an exercise price of $0.70 per share.

All warrants sold under the offering are subject to an acceleration clause. The clause enables the company to have the right to force the exercise of the warrants if the average 20 day closing price of the issuer is $1.00 or above.

A timeline for the closing of the financing was not provided.

Kesselrun Resources last traded at $0.36 on the TSX Venture.


Information for this briefing was found via Sedar and Talisker Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Finding Gold In Alaska – The Daily Dive feat Ian Klassen of Grande Portage Resources

Today on the Daily Dive, we see host Cassandra Leah sit down with Ian Klassen,...

Thursday, December 10, 2020, 01:00:00 PM

Great Bear Resources Conducts $37.2 Million Flow Through Bought Deal Financing

Great Bear Resources (TSXV: GBR) is the latest firm to cash in on the frothy...

Thursday, January 21, 2021, 08:14:36 AM

Gold Lion Sees Rock Grab Samples Return Values As High As 45.8 G/T Gold

Gold Lion Resources (CSE: GL) has completed its 2020 soil and rock sampling program at...

Tuesday, November 10, 2020, 08:13:32 AM

Global Gold Demand Drops To 11-Year Low As Consumers And Investors Face Effects Of COVID-19 Pandemic

It appears that gold has lost its lustre for many central banks and investors, causing...

Monday, November 2, 2020, 12:21:57 PM

BTU Metals Identifies 35 Targets At Red Lake Via AI Tech

There’s hot new tech coming to the mining space. BTU Metals Corp (TSXV: BTU) announced...

Tuesday, July 21, 2020, 11:00:51 AM