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Kootenay Resources Plans $500,000 Private Placement

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Kootenay Resources (KTRI.V) after trade Wednesday it plans to raise up to $500,000 through a non-brokered private placement of flow-through and non-flow-through share units.

The offering will include units priced at $0.09 each and flow-through units priced at $0.11 each, the company said, adding that it will use the proceeds to advance its Moyie Anticline Project, support other exploration properties, and fund general working capital needs.

The private placement is expected to close on or before June 8, subject to regulatory approvals. Shares issued under the financing will be subject to a four-month-and-one-day hold period, the company said.

The company's shares last traded May 14, closing at $0.11 on the TSX Venture Exchange.

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