Kootenay Silver Announces Private Placement for Gross Proceeds of $6,006,000

Kootenay Silver Inc.(TSXV:KTN) announced a new private placement for gross proceeds of $6,006,000. The Company entered into an agreement with Dundee Securities Ltd. The closing date for the offering is scheduled for October 25, 2012.

As quoted in the press release:

In addition, the Company has granted the Agents an over-allotment option (the “Option”) to sell up to an additional 2,100,000 Units pursuant to the Offering, exercisable at any time prior to 48 hours before the closing of the Offering.
The Company intends to use the net proceeds of the Offering for the advancement of the Promontorio project, maintenance of other projects and general corporate purposes.

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