OK2 Minerals Limited: Increases Private Placement and Closes $1.8MM
09.03.2017 | Marketwire
VANCOUVER, March 9, 2017 - OK2 Minerals Ltd. (the "Company") (TSX VENTURE:OK) is pleased to announce further to its news release of February 14, 2017 that its private placement offering has been increased up to 14,730,000 units (each, a "Unit") at the issue price of $0.125 per Unit for gross proceeds of up to $1,841,250. As announced earlier, each Unit shall comprise of one common share and one-half of one share purchase warrant, where each whole warrant (a "Warrant") may be exercised to purchase a further common share at a price of $0.20 for a period of 2 years, subject to acceleration where after the common shares of the Company have traded at or above $0.20 per common share for a period of 10 consecutive trading days commencing after the expiry of a 4 month period from the date of issuance of the Units, the Company may provide notice by news release that the holders of the Warrants shall have 30 days after the date of such news release to exercise such Warrants. After the expiry of this 30 day period, the Warrants and all rights thereunder will cease and terminate.The Company has closed its offering and is seeking regulatory approval.
The funds shall be used for the Company's working capital. Finders' fees shall be paid in cash, shares or warrants, or a combination of the foregoing, subject to board approval and in accordance with the policies of the TSX Venture Exchange.
The completion of the private placement is subject to approval from the TSX Venture Exchange.
BY ORDER OF THE BOARD OF DIRECTORS
"Minaz Devji"
CEO and Director
Neither 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 release.
Contact
OK2 Minerals Ltd.
Mike Devji
(604) 258-8666
mike.devji@ok2minerals.com
Investor Relations
Kin Communications
1 (866) 684-6730 (toll-free)
OK@kincommunications.com