Mr. Spencer Smyl reports
MAKENA ANNOUNCES PRIVATE PLACEMENT
Makena Resources Inc. intends to undertake a private placement financing of up to 14,583,333 units at a price of 12 cents per unit for gross proceeds of up to $1.75-million. Each unit will consist of one common share and one share purchase warrant, and each warrant will entitle the holder to purchase one additional share at a price of 16 cents per share for a period of five years from closing of the financing.
All securities issued in the financing will be subject to a statutory hold period expiring four months and one day after closing of the financing. Completion of the financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the TSX Venture Exchange.
We seek Safe Harbor.
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