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Kore Announces Closing of Macquarie Strategic Investment and Increased Placement24.05.2019 | 1:07 Uhr | CNW
All figures in Canadian dollars. VANCOUVER, May 23, 2019 - Kore Mining Ltd. (TSXV: KORE) ("KORE" or the "Company") is pleased to announce that it has closed its previously announced investment ("Investment") by Macquarie Bank Ltd. and its affiliates (collectively "Macquarie") and has increased total proceeds to the Company to $4,300,000. The Company will issue an additional 1,200,000 common shares for a total issuance of 7,200,000 common shares at a price of $0.25 per common share (the "Financing"). Investment Highlights
i) within 6 months of the closing date for the Macquarie Royalty, if the Company is acquired at a price of no less than $0.75 per share, the Company may buy back the Macquarie Royalty for $4,750,000; or ii) within greater than 6 months but less than 12 months of the closing date for the Macquarie Royalty, if the Company is acquired at a price of no less than $1.00 per share, the Company may buy back the Macquarie Royalty for $6,750,000. The common shares issued under the Financing will be subject to a hold period that will restrict transfer of such shares until September 23, 2019, other than transfers permitted under applicable securities laws. A fee of $80,000 was paid to PI Financial Corp. who acted as financial advisor in connection with the transaction. About Macquarie Macquarie is a global leader in providing financing to the resources sector. Macquarie Bank Limited is part of Macquarie Group, a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie employs over 15,700 people and has assets under management of AUD$551.3 billion (as of March 31, 2019). About KORE KORE is a development stage company that offers exposure to precious metals exploration and development in North America, with a corporate strategy focused on advancing its California development and British Columbia advanced exploration stage projects. KORE owns a 100% interest in the Imperial gold development project ("Imperial"), located on Bureau of Land Management (BLM) administered land in a current mining district of Imperial County, California, USA. Imperial is approximately 17km SSE of the operating Mesquite Mine recently acquired by Equinox Gold Corp. (TSXV: EQX) for US$158 million. Imperial boasts excellent access and infrastructure. This news release does not constitute an offer to sell or a solicitation of an offer to sell any KORE common shares in the United States. The KORE common shares to be issued in connection with the Financing have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
View original content:http://www.prnewswire.com/news-releases/kore-announces-closing-of-macquarie-strategic-investment-and-increased-placement-300856371.html SOURCE Kore Mining Ltd. Contact on KORE can be found on the Company's website at www.koremining.com and at www.sedar.com, or by contacting Adrian Rothwell, President and CEO, by email at info@koremining.com or by telephone at (888) 406 5779. Dieser Artikel stammt von Rohstoff-Welt.de
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