Mr. Tim Fernback reports
KENNA RESOURCES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF
UP TO $690,000 AND WARRANT EXTENSION
Kenna Resources Corp. is proposing to conduct a non-brokered private placement of up to six million units for
gross proceeds of up to $690,000.
Each unit will be priced at 11.5 cents, and comprise one common share of the company and one-half of one common share purchase warrant. Each warrant will be exercisable to acquire one share at a price of 25 cents for a
period of two years. In connection with the private placement, the company proposes to pay
cash finders' fees in accordance with TSX Venture Exchange policies and
applicable securities legislation.
In addition, the company proposes to extend the term of outstanding share purchase warrants
issued in connection with the company's November, 2014, private placement by 12 months. As of the date hereof, no 2014 warrants
have been exercised. All of the 2014 warrants were originally exercisable for a period of 24
months from the date of issuance. All other terms of the 2014 warrants will remain unchanged.
The private placement and warrant extension are subject to exchange approval. All securities
issued under the private placement will be subject to a four-month hold period from the date of
issuance.
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