Killdeer Minerals Announces Financing With MineralFields Group
November 27 2009 - 5:02PM
Marketwired
Killdeer Minerals Inc. - ("Killdeer") (the "Company") (TSX VENTURE:
KMI) is pleased to announce that it has negotiated a private
placement (the "Financing") with MineralFields Group to raise gross
proceeds of up to $750,000.
Under the terms of the Financing, the Company will issue
3,000,000 flow-through units (the "FT Units") at a price of $0.25
per FT Unit. Each FT Unit will consist of one flow-through common
share (the "FT Shares") and one-half of a transferable non
flow-through common share purchase warrant ("Warrants"). Each whole
Warrant will entitle the holder to purchase one additional non
flow-through common share at an exercise price of $0.35 per share
during the first year and thereafter at $0.45 per share during the
second year from the closing date of the Financing (the "Closing
Date").
Provided that the Company's shares close on the TSX Venture
Exchange at any time four months after their date of issue for
twenty consecutive trading days at a price of $0.50 per share or
higher during the first year of the exercise period and at a price
of $0.65 per share or higher during the second year of the exercise
period, the Company may accelerate the expiry time to 30 calendar
days from the date of express written notice delivered to the
Warrant holder by way of registered mail, or thereafter the
unexercised Warrant will be forfeited and terminated.
"We are very pleased to be commencing this relationship with
MineralFields Group," said Mike Elson, President and CEO. "This is
an important milestone in the growth of Killdeer and we look
forward to working with MineralFields Group as we develop our
holdings in Canada."
Limited Market Dealer Inc. will be paid a cash finder's fee of
6% of the funds raised, and issued a finder's fee option to acquire
Units (the "Compensation Units") equal to 8% of the total number of
FT Units sold, exercisable at $0.25 per Compensation Unit for a
term of two years.
About MineralFields, Pathway and First Canadian Securities ®
MineralFields Group (a division of Pathway Asset Management),
based in Toronto, Vancouver and Calgary, is a mining fund with
significant assets under administration that offers its
tax-advantaged super flow-through limited partnerships to investors
throughout Canada as well as hard-dollar resource limited
partnerships to investors throughout the world. Pathway Asset
Management also specializes in the manufacturing and distribution
of structured products and mutual funds (including the Pathway
Multi Series Funds Inc. corporate-class mutual fund series).
Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities ® is active in
leading resource financings (both flow-through and hard dollar PIPE
financings) on competitive, effective and service-friendly terms,
and offers investment banking, mergers and acquisitions, and mining
industry consulting, services to resource companies. MineralFields
and Pathway have financed several hundred mining and oil and gas
exploration companies to date through First Canadian Securities
®.
KILLDEER MINERALS INC.
Mike Elson, President & Chief Executive Officer
Neither the 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 news release.
Contacts: Killdeer Minerals Inc. Stan Szary Director (604)
685-6989 (604) 685-6961 (FAX) www.killdeerminerals.com
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