Kootenay Silver Closes $1.3-million Non-brokered Private Placement

Kootenay Silver Inc. (TSXV:KTN) announced that it’s closed a non-brokered private placement for gross proceeds of $240,000. The company issued 800,000 units priced at $0.30 each.
Including the initial tranche of the placement, the company raised aggregate gross proceeds of $1,315,950.
As quoted in the press release:

Each Unit consists of one common share (“Common Share”) and one transferable share purchase warrant (“Warrant”) of Kootenay. Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.55 until August 26, 2017.  Upon approval by the TSX Venture Exchange, cash finder’s fees to arm’s length parties totaling $3,600; have been paid on this portion of the Private Placement. All securities issued in connection with the Private Placement are subject to a hold period, which expires on December 27, 2015.
The net proceeds from the Private Placement will be used to finance additional work on Kootenay’s Promontorio property, which includes the new La Negra Breccia discovery, its other properties and for general working capital.

Click here to read the full Kootenay Silver Inc. (TSXV:KTN) press release.