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Kivalliq Energy Corporation (TSXV:KIV) announced that it will carry out a non-brokered private placement for gross proceeds of CDN $4, 500,000. The Company intends to use the proceeds of the offering to fully fund phase 1 of its 2013 Exploration program.
As quoted in the press release:
Kivalliq intends to use the net proceeds of the Offering to fully fund the first phase of its 2013 Exploration Program at the Angilak Property in Nunavut, Canada and for general working capital purposes. The budget for phase one has been adjusted to $4 million from $8 million (see news release dated February 5, 2013) and includes high priority drilling and geophysical activities in key areas that must be completed before break-up sometime in June.
Click here to read the Kivalliq Energy Corporation (TSX:KIV) press release
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