Val d'Or, Quebec, December 12, 2017 - Knick Exploration Inc. (TSXV: KNX) ("Knick") is pleased to announce that it is pursuing its non-brokered private placements of units and flow-through shares with accredited investors (the "Offering") announced on October 25, 2017. Closing of the Offering will occur at the latest on December 20, 2017.
Knick offers a maximum of 5,000,000 units for gross proceeds of $250,000 and a maximum of 20,000,000 flow-through shares for gross proceeds of $1,000,000. Each unit is offered at $0.05 and consists of 1 common share and 1 common share purchase warrant (a "Warrant"). Each Warrant shall entitle its holder to purchase a common share at a price of $0.075 for a period of 24 months. Each flow-through share is offered at $0.05.
Pursuant to the Offering, Knick may pay to finders fees equal to a maximum of 8% of the gross proceeds of the Offering as well as finder warrants to acquire a number of common shares equal to a maximum of 8% of the number of shares sold under the Offering. Each finder warrant shall entitle its holder to purchase a common share at a price of $0.075 for a period of 24 months.
The net proceeds of the Offering shall be used for exploration work on Knick's properties and for working capital. The Offering has been conditionally approved by the TSX Venture Exchange. The securities issued pursuant to the Offering shall be subject to a 4 month and 1 day hold period.
There are currently 123,480,794 common shares of Knick issued and outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
FOR MORE INFORMATION, CONTACT:
Jacques Brunelle Gordon N. Henriksen
President & CEO Vice President
Knick Exploration Knick Exploration
Val-d'Or, Quebec Val-d'Or, Quebec
819-874-5252 819-874-5252
819-856-1387 819-210-1406
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