Knick Exploration Completes The Last Closing Of Its Private Placement For An Amount Of $179,000
Val d'Or, Quebec, March 22, 2017 - Knick Exploration Inc. (TSXV: KNX) ("Knick") is pleased to announce the last closing, for an amount of $179,000, of a non-brokered private placement of flow-through units. Together with the closing announced on March 1, 2017, Knick raised an aggregate of $561,000. 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 last closing, a total of 2,983,214 common shares and 596,607 warrants were issued. In connection therewith, Knick paid finders fees of $8,320 and issued 138,661 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 120,530,794 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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