The Company intends to use the net proceeds of the offering for continued exploration and development activities at the Company’s Magino project and for general corporate purposes.
Kootenay Silver Inc. announces that, due to strong investor demand, it has agreed with Research Capital Corporation, as sole agent and sole bookrunner, to further increase the size of the previously announced best efforts private placement offering of units of the Company at a price of $0.16 per Unit for gross proceeds of up to $5,434,782.72.
The company expects to commence fieldwork on the La Texana Concession within the month. The fieldwork will entail detailed geological and structural mapping and rock sampling of the entire concession and take approximately 45 days to complete.
Rob Macdonald, Vice President Exploration stated: “The identification of a significant new lens of mineralization on the north side of the Cerro highlights the continued exploration potential of the property.”
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