Kodiak Copper Corp. (TSXV: KDK) has increased the size of a previously announced non-brokered private placement for aggregate gross proceeds of up to $2,544,000.
As previously announced, Kodiak has also entered into an agreement with Cormark Securities Inc., on behalf of itself and on behalf of an underwriting syndicate to be agreed, in connection with a “bought deal” private placement pursuant to the listed issuer financing exemption, for aggregate gross proceeds to the company of approximately $5M.
The company had previously announced it would be raising a total of $6.5M.
The net proceeds from the issue of the HD Units will be used for working capital and general corporate purposes. The company will use an amount equal to the gross proceeds to incur eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures”.
In consideration for their services, the Underwriters will receive a cash commission equal to 6.0% of the gross proceeds of the Offering and 6.0% of the aggregate proceeds of the Concurrent Financing obtained from purchasers identified by the Underwriters.
The Offering is expected to close on or about April 14, 2023, and the Concurrent Financing on or about April 21, 2023, or such other date as the company and the Underwriters may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the TSX-V.
About Kodiak Copper
Kodiak Copper Corp. (TSX.V:KDK, OTCQB:KDKCF) is focused on the discovery of copper for a low carbon future by sustainably and responsibly exploring its copper porphyry projects in Canada and the USA.
The company’s most advanced asset is the wholly-owned MPD copper-gold porphyry project in the prolific Quesnel Trough in southern British Columbia, Canada, where the company made a discovery of high-grade mineralization in 2020 at the Gate Zone, which has since been expanded to considerable size.
For further information please visit: https://kodiakcoppercorp.com/
