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Stocks in play: Kerr Mines Inc

Baystreet.ca
Updated

Has closed a non-brokered private placement raising gross proceeds of $2,973,517. The Offering, previously announced on November 9, targeted proceeds of $2.5 million, which was oversubscribed. Furthermore, the Company has closed the $2.7-million senior secured convertible note financing with Sprott Private Resource Lending (Collector) LP previously announced on November 6. The proceeds of the financing shall be utilized to commence a resource expansion program, complete permit modifications and conclude metallurgical test-work along with general and corporate working capital. Kerr Mines Inc shares T.KER are trading unchanged at $0.12.