|
CALGARY, AB--(Marketwired - February 25, 2015) - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or the "Company") has determined to issue, by way of a non-brokered private placement, 3.3 million common shares on a "flow-through" basis in respect of Canadian development expenses ("CDE") at a price of $8.60 per share (the "Private Placement"), resulting in gross proceeds of $28.4 million. The flow-through share issue is priced at a 10% premium to the volume weighted average trading price of Kelt's common shares for the three trading days ending February 24, 2015 of $7.82 on the Toronto Stock Exchange ("TSX"). Proceeds from the Private Placement will be used to partially finance the Company's drilling and completion expenditures during the remainder of 2015. |
