Kootenay Silver Announces Completion of First Tranche of Private Placement

Kootenay Silver Inc. (TSXV:KTN) announced the closing of the first tranche of a new private placement. The tranche closed for an offering of $7, 203,000. The proceeds from the offering will be used for the advancement of the Company’s Promontorio project.

As quoted in the press release:

It has received subscriptions for $8,253,000 under the brokered private placement offering (the “Offering”) of units (the “Units”) and has today closed the first tranche of the Offering of $7,203,000 and issued an aggregate of 6,860,000 Units at a purchase price of $1.05 per Unit. The Company anticipates closing the balance of the Offering shortly and will provide an update in due course. The Offering was conducted by Dundee Securities Ltd., on behalf of a syndicate including PI Financial Corp.

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