Calgary, Alberta (FSCwire) - Mr. Kevin Nephin, President and CEO of Kestrel Gold Inc. (the “Corporation” or “Kestrel”) (TSX-V: KGC) is pleased to announce that the Corporation has closed the final tranche of its non-brokered private placement (the “Private Placement”) for an additional 1,600,000 units of the Corporation (the “Units”) at a price of $0.05 per Unit, for gross proceeds of $80,000.    Each unit consists of one common share (“Common Share”) and one common share purchase warrant (“Warrant”), each Warrant entitling the holder to purchase one common share of the Corporation (the “Warrant Share”) at a price of $0.05 per Warrant Share, at any time until March 4, 2020.  The Common Shares and Warrants are subject to a statutory four month hold period, which expires July 6, 2018. Finder’s fees were paid in cash in the amount of 8% of the gross proceeds and in Finder’s Warrants in the amount equal to 8% of the number of Units sold to subscribers who have been introduced to the Corporation by the Finder.

 

The aggregate gross proceeds from the first tranche and the final tranche of the Private Placement is $375,000, which represents the issuance of an aggregate total of 7,500,000 Units.  The net proceeds, after deducting the finder’s fees of $12,800, will be used for exploration activities in the amount of $35,000 and for general working capital in the amount of $327,200.

 

About Kestrel Gold Inc.

 

Kestrel Gold Inc. holds a 100% interest in the King Solomon’s Dome project and has options to earn a 100% interest in four gold projects totaling approximately 5,700 hectares located within the Yukon portion of the Tintina Gold Belt, as well as four copper-gold projects in British Columbia, Canada, north of the Red-Chris copper-goldmine, totaling approximately 7,200 hectares.  Numerous mineralized occurrences exist on these various properties and each has an excellent data base from previous work.  Kestrel’s proposed 2018 work programs will focus on further enhancing the value of these projects.

 

For further information contact:

 

Kevin Nephin, President and CEO

Office (604) 799-2456

kvnephin@gmail.com

 

Neither 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.

To view the associated document to this release, please click on the following link:
public://news_release_pdf/Kestrel03062018.pdf

To view the original release, please click here

Source: Kestrel Gold Inc. (TSX Venture:KGC, FWB:2KG1)

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