Makena Resources Arranges $860,000 Private Placement

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Makena Resources Inc. (TSXV:MKN) announced a non-brokered private placement of up to 34.4 million units at a price of $0.025 per unit, of which up to $500,000 may be flow-through units, for gross proceeds of $860,000.

Makena Resources Inc. (TSXV:MKN) announced a non-brokered private placement of up to 34.4 million units at a price of $0.025 per unit, of which up to $500,000 may be flow-through units, for gross proceeds of $860,000.

As quoted in the press release:

Each unit, flow-through and non-flow-through, will consist of one common share and one transferable share purchase warrant exercisable at five cents for a period of five years, subject to approval of the TSX Venture Exchange. The offering is being conducted in accordance with the TSX-V bulletin, dated April 7, 2014, and Nov. 17, 2014, regarding private placements, discretionary waivers of five-cent minimum pricing requirement. Makena plans to rely upon the new existing shareholder exemption, described in Multilateral CSA Notice 45-313, prospectus exemption for distributions to existing securityholders (published March 13, 2014), or analogous exemption for shareholders of record as of June 19, 2015, as well as other exemptions. Proceeds of the offering are expected to be used toward the following: (a) accounts payable and accrued liabilities; (b) up to $500,000 on exploration work on the Patterson uranium property; (c) $25,000 on acquisition costs on the Patterson uranium property; and (d) working capital. A finder’s fee may be paid in accordance with TSX-V policy.

Click here to read the Makena Resources Inc. (TSXV:MKN) press release
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