Kaminak Announces
Closing of $11.5 Million Bought Deal Private Placement
March 3, 2011
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia � Kaminak
Gold Corporation (KAM: TSX-V) (�Kaminak� or the �Company�) is pleased to announce that it has
today closed the previously announced bought deal private placement financing
(the �Offering�). The Company has issued 1,917,050 common shares (the �Common
Shares�) at a price of C$3.00 per common share and 1,597,350 common shares
which qualify as �flow-through� shares for purposes of the Income Tax Act
(Canada) (the �Flow-Through Shares�) at a price of C$3.60 per flow-through
share for aggregate gross proceeds of C$11,501,610. The common shares and
flow-through shares are collectively referred to herein as the �Offered
Securities�.
The Offering was co-led by Paradigm
Capital Inc. and Canaccord Genuity Corp. and included Fraser Mackenzie
Limited (the �Underwriters�). The Underwriters received a cash commission of
6% of the gross proceeds raised through the Offering and warrants (�Broker
Warrants�) equal to 6% of the number of Offered Securities sold in the
Offering. Each Broker Warrant shall be exercisable to acquire one common
share of the Company at an exercise price of C$3.60 for a period of 24 months
from closing. Securities issued under the Offering are subject to a hold
period which will expire four months and one day from the date of closing,
being July 4, 2011.
The Company intends to use the net
proceeds of the Offering to conduct exploration activities on its Coffee
project located in the White Gold District, Yukon, and for general corporate
purposes. This news release contains certain forward-looking statements
including with respect to use of proceeds by the Company and exploration
activities on its properties, and such statements involve risks and
uncertainties. The results or events predicted may differ materially from
actual results or events. Any forward-looking statement speaks only as of the
date of this news release. Except as may be required by applicable securities
laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future
events or results, or any other occurrence.
This news release does not constitute an offer to sell or a solicitation of
an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the �U.S. Securities Act�) or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
On behalf of the Board of Directors of
Kaminak
�Rob Carpenter�
Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation
For further information about Kaminak
Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at
604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery
Group of companies. For more information on the group please visit www.discoveryexp.com.
Neither the 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.
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