YUKON – Kaminak Gold Corp. of Vancouver has closed a bought deal private placement in the amount of $11.5 million. The proceeds will be used to advance the Coffee gold project 130 km south of Dawson City.
The company issued 14.0 million units at a price of $0.82 each. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant allows the holder to purchase one common share at a price of $1.20 within the 12 months after the deal closed.
Kaminak has identified eight significant gold trends at the Coffee project. The Supremo deposit contains an indicated resource of 4.0 million tonnes grading 2.01 g/t Au and containing 258,000 oz of gold, plus an inferred resource of 11.5 million tonnes grading 1.58 g/t and containing 587,000 oz. The Latte deposit has 10.0 million indicated tonnes at 1.38 g/t and containing 461,000 oz, plus 15.0 million inferred tonnes at 1.55 g/t and containing 740,000 oz of gold.
Read all the news releases about the Coffee project at Kaminak.com.