Kalimantan Gold closes private placement
Friday, June 14 2002 - 01:53 AM WIB
Vancouver based junior mineral explorer Kalimantan Gold Corporation Limited has issued 750,000 common shares and 750,000 common share purchase warrants in the capital of the Company at a price of US$0.20 per unit for gross proceeds of C$150,000 as announced on April 26, 2002, the company announcement said Thursday.
Murray Clapham, Chairman, Rahman Connelly, Deputy Chairman and one other individual, a friend of insiders purchased the private placement evenly between them, said the company.
Each Warrant will entitle the holder to purchase one common share at an exercise price of US$0.20 until June 12, 2004.
Proceeds will be used for maintaining the Company's exploration project and working capital.
The company?s copper and gold prospect is located in Central Kalimantan. (alex)