Knick Completes the First Closing of a Private Placement for an Amount Of $382,000
Val d'Or, March 1, 2017: Knick Exploration Inc. (TSXV: KNX) ("Knick") is pleased to announce the first closing, for an amount of $382,000, of a non-brokered private placement of flow-through units. The private placement is for a maximum of $750,000 and additional closings can be completed until March 15, 2017. The units are offered at a price of $1,000 per unit and each unit is comprised of 3,333 common shares at $0.06 each, 13,333 flow-through common shares at $0.06 each and 3,333 common share purchase warrants (each a "warrant"), each warrant entitling its holder to purchase a common share at a price of $0.08 for a period of 12 months.
In the first closing, a total of 6,366,412 common shares and 1,273,206 warrants were issued.
In connection with the placement, Knick paid finders fees of $11,120 and issued 185,325 finder warrants, each finder warrant entitling its holder to purchase a common share at a price of $0.08 for a period of 12 months.
The proceeds of the placement shall be used for exploration work on its properties and for working capital. The securities issued pursuant to the placement, which has received the conditional approval of the TSX Venture Exchange, shall be subject to a 4 month and 1 day hold period.
Following the closing of the private placement, there are currently 117,547,580 common shares of Knick issued and outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
FOR MORE INFORMATION, CONTACT:
Jacques Brunelle Gordon N. Henriksen
President & CEO Vice President
Knick Exploration Inc. Knick Exploration Inc.
Val-d'Or, Quebec Val-d'Or, Quebec
819-874-5252 819-874-5252
819-856-1387 819-210-1406
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