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Kennady Raises $9M

Oct 22, 2013 12:21 PM   By Jeff Miller
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RAPAPORT... Kennady Diamonds Inc.  closed its non-brokered private placement of flow-through and non-flow-through common shares for gross proceeds of $9 million.

The exploration company issued 247,100 flow-through common shares at a price of $5.50 per share and 1,608,621 non-flow-through common shares at a price of $4.75 per share. The shares are subject to a four-month hold period, expiring on February 21, 2014. Proceeds of the private placement will be used primarily for the company's 2014 exploration program at the Kennady north diamond project and for general working capital.

Tags: capital funding, Jeff Miller, kennady, private placement
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