Val-D'or, Quebec, Canada / Knick Exploration Inc. ("Knick") is pleased to announce that it has held a closing of its previously announced private placement by issuing 188 flow-through units at a price of $1,000 per flow-through unit, for proceeds to Knick of $188,000. Each flow-through unit is comprised of 18,000 common flow-through shares, 2,000 common shares and 20,000 common share purchase warrants.
Knick will use the proceeds from the placement of the common flow-through shares to incur exploration drilling expenses on its mining properties located in the Province of Quebec while the net proceeds from the common shares will be used as working capital of Knick.
In relation with this private placement, Knick has not paid any finder's fees or any commission.
All the foregoing securities are subject to a hold period expiring on July 8, 2014.
Following the closing of the private placement, there are a total of 58,110,984 common shares of Knick issued and outstanding.
Knick also announces the resignation of Mr. Luc Guimond as a director of the corporation. We thank him for services rendered to the corporation and which him well in his future endeavours said Mr. Brunelle the corporation's president.
For more information, please contact:
President and CEO
Tel.: - 819 874-5252
The securities have not been and will not be registered under the United Shares Securities Act of 1933, as amended or any state securities laws. This press release is not for distribution to United-States newswire services or for dissemination in the United-States.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Release ID: 36347