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Kodiak Copper Raises C$15 Million in Private Placement of Shares

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Kodiak Copper (KDK.V) on Thursday said it raised C$15 million in a private placement of charity flow-through and common shares.

The company issued 9.9-million charity flow-through shares at C$1.271 each, for C$12.5-million in proceeds, and 3.050million shares at C$0.82 for C$2.5 million of proceeds.

Kodiak's largest shareholder, Konwave,, a European resource fund, participated in the financing to maintain its equity stake.

The net proceeds from the placement of (common) shares will be used for working capital and general corporate purposes. The company will use an amount equal to the gross proceeds received from the sale of the Charity FT shares to incur eligible "Canadian exploration expenses" .

Kodiak Copper shares were last seen up C$0.03 to C$0.71 on the TSX Venture Exchange.

Price: $0.71, Change: $+0.03, Percent Change: +4.41%

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