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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 11, 2011) - Kokanee Minerals Inc. (TSX VENTURE:KOK) ("Kokanee") announces that it has closed a $7.5 million non-brokered private placement of 50,000,000 units at $0.15 per unit. (the "Offering"). Each unit consists of one common share and one non-transferable share purchase warrant exercisable into one additional common share of Kokanee at an exercise price of $0.30 until October 11, 2012. The private placement shares, warrants and any shares issued on exercise of the warrants are subject to a hold period which expires February 12, 2012. The Offering did not result in a change of control of Kokanee. A number of agents assisted Kokanee in placing the Offering and Kokanee has paid a cash commission of seven percent (7%) on proceeds raised by the agents. The Offering has received final TSX Venture Exchange approval. |
