Knick Exploration Inc. Announces Non-Brokered Private Placements for a Maximum of $1,000,000
Val d'Or, July 6, 2017 - Knick Exploration Inc. (TSXV: KNX) ("Knick") is pleased to announce that it is undertaking non-brokered private placements of units and flow-through shares with accredited investors (the "Offering"), for a maximum amount of $1,000,000. Knick will offer a maximum of 8,000,000 units for gross proceeds of $400,000 and a maximum of 8,571,429 flow-through shares for gross proceeds of $600,000. Each unit will be offered at $0.05 and shall consist of 1 common share and 1 common share purchase warrant (a "Warrant"). Each Warrant shall entitle its holder to purchase a common share at a price of $0.08 for a period of 18 months. Each flow-through share will be offered at $0.07.
Pursuant to the Offering, Knick may pay to finders fees equal to a maximum of 8% of the gross proceeds of the Offering as well as finder warrants to acquire a number of common shares equal to a maximum of 8% of the number of shares sold under the Offering. Each finder warrant shall entitle its holder to purchase a common share at a price of $0.08 for a period of 18 months.
The net proceeds of the Offering shall be used for exploration work on Knick's properties and for working capital. The closing of the Offering is subject to the approval of the TSX Venture Exchange. The securities issued pursuant to the Offering shall be subject to a 4 month and 1 day hold period.
There are currently 121,830,794 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 Knick Exploration
Val-d'Or, Quebec Val-d'Or, Quebec
819-874-5252 819-874-5252
819-856-1387 819-210-1406
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