DIAMONDS: Kennady to raise $7M for Kennady North exploration

NORTHWEST TERRITORIES – Kennady Diamonds of Toronto is raising at least $7 million for continuing exploration at its Kennady North property near Snap Lake and adjacent to the Gahcho Kué project of De Beers and Mountain Province.

Topics

Commodities

Regions

Tags

Companies

NORTHWEST TERRITORIES – Kennady Diamonds of Toronto is raising at least $7 million for continuing exploration at its Kennady North property near Snap Lake and adjacent to the Gahcho Kué project of De Beers and Mountain Province.

The company will issue a combination of common shares and flow-through shares, priced at $4.75 and $5.50 respectively. Roughly $3 million will be attributable to the sale of common shares and $4 million to flow-through shares. The underwriters have the option of purchasing an additional 182,000 flow-through shares for an additional sum of $1 million.

Kennady is planning 10,000 metres of drilling during this winter's program plus 5,000 metres during next summer's program. Hopefully a resource of between 5 million and 8 million tonnes can be outlined.

Go to KennadyDiamonds.com to view photos and maps from the project.

Comments

Your email address will not be published. Required fields are marked *

Aug 12 2021 - Aug 13 2021
Aug 17 2021 - Aug 18 2021
Aug 25 2021 - Aug 26 2021
Sep 07 2021 - Sep 09 2021