Caribou King Announces Non-Brokered Private Placement

Caribou King Resources (TSXV:CKR) has announced a non-brokered private placement of non-flow-through units for gross proceeds of up to $260,000.

As quoted in the press release:

Each NFT Unit will be comprised of one common share (“Share”) and one-half of one Share purchase warrant of the Company (each whole warrant, a “NFT Warrant”). Each NFT Warrant entitles the holder to purchase an additional Share at a price of $0.15 per Share for a period of 12 months. Proceeds from the NFT Offering will be used for the Company’s short term payables and for general working capital.

Concurrent with the NFT Offering, the Company also announces it has arranged a non-brokered private placement of up to 2 million flow-through units (“FT Units”) at a price of $0.12 per FT Unit for aggregate gross proceeds of $240,000 (the “FT Offering”). Each FT Unit will be comprised of one Share and one-half of one Share purchase warrant of the Company (each whole warrant, a “FT “Warrant”). Each FT Warrant entitles the holder to purchase an additional Share at a price of $0.20 per Share for a period of 12 months. Proceeds from the FT Offering will be used for qualifying expenditures on the Company’s properties.

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