Kivalliq Closes Non-Brokered Private Placement

Kivalliq Energy Corporation (TSXV:KIV) announced the closing of a non-brokered private placement for gross proceeds of CDN $4,544,800. The Company plans to use the funds to carry out the first of its 2013 Angilak exploration program.

As quoted in the press release:

Kivalliq raised the funds by issuing approximately 15 million units (“Units”) at the price of CAD$0.30 per Unit (the “Offering”). Each Unit consists of one common share and one whole warrant. Each whole warrant will allow the holder to acquire an additional common share of Kivalliq at a price of $0.50 per share for a period of two years following the date of closing.

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