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Kapa Gold Raises C$2.8 Million in Total Via Non-Brokered Private Placement

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Kapa Gold (KAPA.V) closed the second and final tranche of its non-brokered private placement raising about C$854,550, taking the total to C$2.8 million, it said in a statement on Monday.

As part of the offering, the company issued 5.7 million units at C$0.15 apiece, bringing the total number of units issued under the offering to 18.6 million. Each unit is comprised of one common share and one transferable common share purchase warrant, with each warrant exercisable to buy a share for C$0.25 for a two-year period from the closing date, with an acceleration clause.

The company plans to use the proceeds for its next drill program at its Blackhawk Gold property, Lucerne Valley, California and for general working capital needs. Kapa Gold CEO David Paxton acquired 300,000 units under the offering, it said.

Shares of the company were last seen up 3.3% at C$0.155 on the TSX Venture Exchange.

Price: $0.16, Change: $+0.01, Percent Change: +3.33%

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