King’s Bay Closes $217,500 Private Placement

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King’s Bay Closes $217,500 Private Placement

King’s Bay is a Vancouver based company focused on the exploration of cobalt, and other high-tech metals in North America. The company believes in this emerging fast-growth sector, and will continue to seek out and evaluate properties that show promise for development.
King's Bay Resources Corp. trades on the TSX.V with the symbol 'KBG'

 September 19, 2017

 

King’s Bay Resources Corporation (TSXV:KBG)(FSE:KGB1) (the “Company”) is pleased to announce that it has completed a non-brokered private placement (the “Financing”) of 2,175,000 units (each, a “Unit”) at a price of $0.10 per Unit for gross proceeds of $217,500.

 

Each Unit consists of one common share of the Company and one non-transferable common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one common share (each, a “Warrant Share”) of the Company at a price of $0.15 per Warrant Share for a period of 2 years from the closing of the Financing.

 

In connection with the Financing, the Company paid cash finder’s fees of $16,000 to a certain finder.

 

All securities issued in connection with the Financing are subject to a statutory hold period expiring four months and one day after the closing of the Financing.

 

ON BEHALF OF THE BOARD OF DIRECTORS

King’s Bay Resources Corporation

 

“Kevin Bottomley”

President and Chief Executive Officer

Tel: (604) 681-1568

Email:  Kevin@kingsbayres.com

 

For investment inquiries please contact:

Jared Rushton

Corporate Development

Tel: (604) 681-1568

Email:  jrushton@kingsbayres.com

 

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.