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| Home : Kraken Announces Closing of Non-Brokered Private Placement |
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Aug 16
2016 |
Kraken Announces Closing of Non-Brokered Private Placement |
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ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - Aug. 15, 2016) - Kraken Sonar Inc. (TSX VENTURE:PNG) ("Kraken" or the "Company") is pleased to announce that effective August 12, 2016 it has closed a non-brokered private placement offering (the "Offering") comprised of 7,159,534 units (the "Units") at a purchase price of $0.15 per Unit for aggregate gross proceeds of $1,073,930. Each Unit consisted of one common share and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"), with each Warrant exercisable to acquire one common share of Kraken at $0.30 for a period of 24 months from the date of issuance. In connection with the Offering, the Company paid a cash finder's fees of $18,025. All proceeds raised from the sale of the Units will be used by Kraken for general corporate and working capital purposes. |
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| Source:http://www.marketwired.com/mw/release.do?id=2150821&sourceType=3 |
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