Knick Exploration Arranges $250,000 Private Placement

Knick Exploration (TSXV:KNX) announced it has arranged a proposed non-brokered private placement of a maximum of up to 250 flow-through units at a price of $1,000 per flow-through unit for a total amount of $250,000.
As quoted in the press release:

Each flow-through unit will be comprised of 16,000 common flow-through shares, 4,000 common shares and 20,000 common share purchase warrants. All the common flow-through shares and common shares, included in the flow-through units, will be issued at a price of $0.05 per share. Common share purchase warrants comprised in the flow-through units will entitle the holder thereof to purchase one additional common share at a price of (i) $0.05 for the period of 12 months following the closing of the private placement, and (ii) $0.10 for the period between the end of the first 12 months hereinabove mentioned and the day following the 24th month following the closing of the private placement. Knick will use the proceeds from the placement of common flow-through shares for gold exploration work on Knick’s East-West Property. The net proceeds from the common shares will be use as working capital of Knick.

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