Kesselrun Resources Ltd.: Completes Private Placement Financing
Thunder Bay - June 15, 2016 - Kesselrun Resources Ltd. (TSXV: KES) ("Kesselrun" or the "Company") is pleased to announce that it has closed the offering previously announced June 10, 2016. Kesselrun issued 2,849,333 flow-through units (the "FT Units") at a price of $0.15 per FT Unit for gross proceeds of $427,400. Each FT Unit consists of one flow-through common share and one half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles a holder to purchase one non-flow-through common share at a price of $0.20 for a period of twelve months expiring June 14, 2017. In connection with the private placement, the Company paid cash finder's fee totaling $38,990, as permitted by the policies of the TSX Venture Exchange.
All securities issued above are subject to a hold period of 4 months and one day from the date of closing, which will expire on October 15, 2016.
The proceeds from the private placement will be used to conduct exploration on the Company's property.
About Kesselrun Resources Ltd.
Kesselrun Resources is a Thunder Bay, Ontario-based mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun's management team possesses strong geological and exploration expertise with particular experience in Northwest Ontario. For more information about Kesselrun Resources, please visit www.kesselrunresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For additional information please contact:
Michael Thompson, P. Geo., President & CEO
807.285.3323
michaelt@kesselrunresources.com
Corporate Communications
1.866.416.7941
information@kesselrunresources.com
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Kesselrun, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, dependence upon regulatory approvals, the execution of definitive documentation, the availability of financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.