Val-D'Or, Quebec, February 21, 2012. Knick Exploration Inc. (TSX-V: KNX) is pleased to announce a proposed private placement of a maximum of up to 334 units at a price of $1,500 per unit for an aggregate amount of $501,000. Each unit will be comprised of 8,000 flow-through common shares, 2,000 common shares and 10,000 common share purchase warrants. All the shares, included in the units, will be issued at a price of $0.15 per share.
Common share purchase warrants will entitle the holder thereof to purchase, for a period of 24 months following the closing date of the placement, one additional common share at a price of $0.25 for the first period of 12 months at at the price of $0.35 for the following 12 month period.
Knick Exploration Inc. ("Knick") will use the proceeds from the placement of common flow-through shares to incur Canadian Exploration Expenses on its mining properties while the net proceeds from the common shares will be use as working capital of Knick.
Knick do not intend to pay any finder's fees or commission. However, should an accredited investor be introduced by a stock broker, Knick may then decide to pay a commission in accordance with the terms of Policy 5.1 of the TSX Venture Exchange.
All the shares to be issued will be subject to a four month and one day "hold period" calculated from the closing date of the private placement.
This placement will be effected pursuant to prospectus exemptions under applicable securities legislation and regulations and is expected to cease on or before March 31, 2012. The placement is subject to receipt of all necessary regulatory approvals, including that of the TSX Venture Exchange.
For more information contact:
Jacques BRUNELLE
President and CEO
Knick Exploration Inc.
536, 3e Avenue
Val-D'Or (Quebec) J9P 1S4
Tel : - 819 874-5252
This new release does not constitute an offer to sell or a solicitation of an offer to buy and of the securities in the United Shares. The securities have not been and will not be registered under the United Shares Securities Act of 1933, as amended or any state securities laws and will not be offered or sold within the United-States of to United States Persons. This new release is not for distribution to United-States newswire services or for dissemination in the United-States.
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.
FOR MORE INFORMATION, CONTACT:
Jacques Brunelle
President & CEO
Knick Exploration
536 3rd Avenue
Val-d'Or, Quebec
J9P 1S4
Office
819-874-5252
Cell
819-856-1387
Gordon N. Henriksen
Vice President
Knick Exploration
536 3rd Avenue
Val-d'Or, Quebec
J9P 1S4
Office
819-874-5252
Cell
819-210-1406
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