Kalimantan Gold Corporation Limited Kalimantan Gold Closes Private Placement
02 June 2015 - 4:00PM
UK Regulatory
TIDMKLG
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
VANCOUVER, British Columbia, June 2, 2015 (GLOBE NEWSWIRE) -- Kalimantan
Gold Corporation Limited (the "Company") is pleased to announce that has
closed a brokered private placement announced on May 28, 2015. The
Company has issued and settled through CREST 108,443,747 common shares
at a price of GBP0.012 per share for total gross proceeds of
approximately GBP1.3 million (approximately equivalent to CDN $2.5
million at CDN $0.023 per share).
The Company paid an aggregate of GBP65,000 in fees to brokers and issued
an aggregate of 5,416,667 common shares purchase warrants to brokers
with each warrant exercisable at a price of C$0.05 per share for a
period of two years. The participating investors include clients of the
Company's UK broker agents, VSA Capital Limited and Optiva Securities
Limited. The common shares issued and any common shares issued on
exercise of the broker warrants are restricted from trading in Canada
through the TSX Venture Exchange until October 2, 2015.
It is intended that the proceeds of the private placement will be used
to fund the continuation of the Company's 2015 infill and expansion
drilling at the Beruang Kanan prospect within the KSK Contract of Work
in Kalimantan, on progressing conversion of the Company's Beutong Izin
Usaha Pertambangan ("IUP") from an exploration IUP to an exploitation
IUP, and for general working capital purposes.
The placement shares will be fully paid and will rank pari passu in all
respects with the existing common shares in the Company. Application has
been made for the placement shares to be admitted to trading on AIM
("Admission") and to be listed on the TSX Venture Exchange. It is
expected that Admission will become effective and that dealings in the
placement shares will commence on June 3, 2015. The total number of
common shares in issue following completion of the placement will be
503,168,500.
ON BEHALF OF THE BOARD OF DIRECTORS
Tony Manini, Deputy Chairman and CEO
For further information please contact:
Tony Manini
Deputy Chairman and CEO, Kalimantan Gold
Telephone: +61 3 8644 1300
Email: tony.manini@kalimantan.com http://www.globenewswire.com/newsroom/ctr?d=10136884&l=7&a=tony.manini%40kalimantan.com&u=mailto%3Atony.manini%40kalimantan.com
VSA Capital Limited
Andrew Raca / Richard Buckle
Telephone: +44 20 3005 5004 / +44 20 3005 5005
Email: araca@vsacapital.com http://www.globenewswire.com/newsroom/ctr?d=10136884&l=7&a=Email%3A%20araca%40vsacapital.com&u=mailto%3Aaraca%40vsacapital.com
Optiva Securities Limited
Jeremy King
Telephone: +44 203 137 1904
Email: Jeremy.King@optivasecurities.com
http://www.globenewswire.com/newsroom/ctr?d=10136884&l=7&a=Email%3A%20Jeremy.King%40optivasecurities.com&u=mailto%3AJeremy.King%40optivasecurities.com
Kalimantan Gold's Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Oliver Morse
Telephone: +61 8 9480 2500
Email: andrew.thomson@rfcambrian.com http://www.globenewswire.com/newsroom/ctr?d=10136884&l=7&a=andrew.thomson%40rfcambrian.com&u=mailto%3Aandrew.thomson%40rfcambrian.com
/ Oliver.Morse@rfcambrian.com http://www.globenewswire.com/newsroom/ctr?d=10136884&l=7&a=Oliver.Morse%40rfcambrian.com&u=mailto%3AOliver.Morse%40rfcambrian.com
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.
United States Advisory
The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as amended
(the "U.S. Securities Act"), have been offered and sold outside the
United States to eligible investors pursuant to Regulation S promulgated
under the U.S. Securities Act, and may not be offered, sold, or resold
in the United States or to, or for the account of or benefit of, a U.S.
Person (as such term is defined in Regulation S under the United States
Securities Act) unless the securities are registered under the U.S.
Securities Act, or an exemption from the registration requirements of
the U.S. Securities Act is available. Hedging transactions involving the
securities must not be conducted unless in accordance with the U.S.
Securities Act. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy any securities, nor shall there
be any sale of securities in the state in the United States in which
such offer, solicitation or sale would be unlawful.
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Kalimantan Gold Corporation Limited via Globenewswire
HUG#1925559
http://www.kalimantan.com