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| Home : Kaymus Resources Inc. Announces Non-Brokered Private Placement and Shares for Debt Transaction |
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Jul 23
2016 |
Kaymus Resources Inc. Announces Non-Brokered Private Placement and Shares for Debt Transaction |
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CALGARY, ALBERTA--(Marketwired - July 22, 2016) - Kaymus Resources Inc. (the "Company") (NEX:KYS.H) announces that it intends to conduct a non-brokered issuance of 4,600,000 units (the "Units") at a price of $0.05 per Unit for gross proceeds of $230,000. Each Unit is comprised of one common share (a "Common Share"), and one Common Share purchase warrant (a "Warrant") with an exercise price $0.05 per warrant, expiring 12 months from the date of grant (the "Offering"). The Company intends to use the proceeds from the Offering for working capital and asset acquisition purposes. Concurrently with the Offering, the Company intends to complete a shares for debt transaction under the same terms as the Offering to settle outstanding debt of the Company to certain insiders in the aggregate amount of $262,220.28 (the "Shares for Debt Transaction"). Closing for the Offering and the Shares for Debt Transaction is expected to occur on or about August 10, 2016 and is subject to approval from the NEX. |
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| Source:http://www.marketwired.com/mw/release.do?id=2144753&sourceType=3 |
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