Killdeer Raises $500,000 and Completes Debt Settlement
February 7, 2017
Vancouver, BC, February 7th, 2017 – Killdeer Minerals Inc. – KMI.H: TSX-V (“Killdeer” or the “Company”) announces that it has completed its non-brokered private placement of units (each, a “Unit”) at a price of $0.10 per Unit. Each “Unit” consists of one common share of the Company and one- half-of-one common share purchase warrant (each whole warrant, a “Warrant”). Each whole Warrant entitles the holder to acquire a further common share at a price of $0.15 for a period of twelve months, subject to accelerated expiry in the event that the Company’s common shares have a closing price of
$0.40 or higher for ten consecutive trading days.
The private placement was fully subscribed and on closing the Company issued 5,000,000 Units for gross proceeds of $500,000. In connection with closing the Company paid fees of $31,800 and issued 318,000 warrants to finders’ who introduced subscribers to the private placement. The proceeds of the private placement will be used for general working capital purposes and for the evaluation of potential strategic acquisition opportunities.
Further to the Company’s news release of February 3rd, 2017, the Company has also completed the settlement of $38,000 of indebtedness owing to certain creditors through the issuance of 380,000 common shares at an effective price of $0.10 per share. All securities issued in connection with the private placement and debt settlement are subject to a four-month-and-one-day hold period expiring on June 8th, 2017.
The Company also announces that it has engaged Daniel Kunz & Associates, LLC, to assist with due diligence of various mineral resource projects the Company is currently reviewing. Daniel Kunz is an internationally recognized consulting firm specializing in the exploration, development and financing of resource projects. More information on Daniel Kunz is available at www.dkunzassoc.com.
On behalf of the Board of Directors
Killdeer Minerals Inc
President, Chief Executive Officer, Director
For More Information About Killdeer Minerals Inc. Please Contact:
Saf Dhillon (604) 688-2922
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.