K92 Mining Inc. Closes Oversubscribed Financing for Gross Proceeds of $16,554,600

June 27, 2017
K92 Mining Inc. (K92) closed its private placement financing, raising total gross proceeds of $16,554,600.

A total of $13,000,000 was arranged by Clarus Securities Inc. as lead agent, on behalf of a syndicate of agents that included CIBC World Markets Inc., Eventus Capital Corp. and Haywood Securities Inc. with an additional $3,554,600 arranged via a concurrent non-brokered private placement.

Pursuant to the Offering, the Company issued a total of 20,693,250 units at a price of $0.80 per unit. Each Unit is comprised of one common share in the capital of the Company and one Common Share purchase warrant with each Warrant entitling the holder to purchase one Common Share at an exercise price of $1.05 for 12 months following the completion of the Offering.

Fasken Martineau advised K92 on the private placement financing.