Kootenay Silver’s First Tranche of Financing Closes

Kootenay Silver (TSXV:KTN) announced the closing of the first tranche of the Offering worth $7,203,000 and issued an aggregate of 6,860,000 Units at a purchase price of $1.05 per Unit.

As quoted in the press release:

The Offering was conducted by Dundee Securities Ltd., on behalf of a syndicate including PI Financial Corp. (the “Agents”).
Each Unit consists of one common share (“Share”) of the Company and one half of one common share purchase warrant (“Warrant”). Each whole Warrant entitles the holder to acquire one Share of the Company at a price of $1.30 for a period of 24 months following the closing of the Offering. All securities issued in connection with the Offering are subject to a hold period in Canada expiring on February 26, 2013.

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