Kinbauri Announces Private Placement
May 14 2009 - 2:06PM
Marketwired
Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE: KNB)(FRANKFURT:
3KG.DE) announces that it intends to complete a non-brokered
private placement of up to 6,000,000 units of Kinbauri at a price
of $0.50 per unit ("Unit") for gross proceeds of up to $3,000,000.
Each Unit will consist of one common share and one-half of a common
share purchase warrant. Each whole warrant entitles the holder to
purchase one common share at a price of $0.70 for a period of 12
months from the date of issuance. The proceeds of the financing
will be used for general working capital purposes. The placement is
subject to regulatory approval, including the approval of the TSX
Venture Exchange.
About Kinbauri:
Kinbauri is a TSXV - Tier 1 Mineral Exploration Company focused
on the development of precious metal prospects in Spain, Nevada and
Canada. Its immediate focus is to begin operations at its El
Valle/Carles property in Asturias, northwestern Spain by 2010. It
currently has 53,243,051 common shares issued and outstanding.
This press release contains certain forward-looking statements,
which are based on the opinions and estimates of management at the
date the statements are made, and are subject to a variety of risks
and uncertainties and other factors that could cause actual events
or results to differ materially from those projected. Kinbauri
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on
forward-looking statements.
Kinbauri Gold's Hub at http://www.agoracom.com/IR/kinbauri where
investors can post questions and receive answers or review
questions and answers already posted by other investors.
THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. THE TSX
VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Contacts: North America: Kinbauri Gold Corp. Darrell Munro,
BB.A, LL.B Manager, Corporate Communications 613-836-0198
dmunro@kinbauri-gold.com Kinbauri Gold Corp. Dr. Vern Rampton, P.
Eng. President 613-836 2594 613-831 2730 (FAX)
vrampton@kinbauri-gold.com kinbauri@kinbauri-gold.com /
www.kinbauri-gold.com Europe: Ruediger (Rudy) Hnyk, CEO INVESTEL
Investor Relations & Telecommunications ceo@investel.de
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