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Kaminak Increases
Non-Brokered Private Placement
June 19, 2009
Vancouver, B.C. � Kaminak Gold
Corporation (KAM: TSX-V) today
announced an
increase to the non-brokered private placement offering (�Offering�)
previously announced on June 11, 2009. The Offering will now consist of
3,111,111 units (�Units�) at a price of $0.45 per unit, for total gross
proceeds of $1,400,000 CDN.
Each Unit sold will consist of one (1.0) common share and one (1.0) common
share purchase warrant. Each whole common share purchase warrant will
be exercisable into one common share for a period of 24 months from closing
at a price of $0.55 per share in the first 12 months and $0.70 per share in
the subsequent 12 months.
The warrants will be subject to an acceleration clause, whereby, if the
weighted average trading price of the Corporation�s shares on the Exchange is
at a price greater than $0.10 above the strike price of a whole common share
purchase warrant for a period of 10 consecutive trading days, the Corporation
will have the right to accelerate the expiry date of the
warrants. The Corporation will give written notice to the holders
of the warrants that the warrants will expire within 30 days of the date
notice provided by the Corporation to the warrant holders. Such notice
by the Corporation to the holders of the warrants may not be given until 4
months and one day after the Closing.
All units issued are subject to a four month hold period from the Closing
date. The Offering is subject to certain conditions, including
regulatory acceptance. Finder fees may be payable on portions of the
Offering. Proceeds for the Offering will be used to fund the Company's
exploration programs and for general corporate purposes.
About Kaminak
Kaminak Gold Corporation is an opportunity focused prospect generator whose
technical strength and entrepreneurial drive is complemented by a proven,
successful business model designed to create shareholder value. The company's
business model employs a joint venture strategy that exposes Kaminak
shareholders to multiple opportunities for discovery. Kaminak projects offer
world-class exploration potential and present exposure to strategic
commodities with an emphasis on gold.
Kaminak currently has working capital in excess of $5,400,000
including over $4,400,000 in cash. The company has a low corporate burn-rate
of under $60,000 per month and no debt. These factors combine to put Kaminak
in a position of strength in the current market. Management will
continue to seek out market friendly opportunities which are value-driven
with high-potential for discovery.
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, Investor Relations, at toll free 1.888.331.2269, directly
at 604.646.4534 or by email at info@kaminak.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.
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.
Certain disclosures in this release, including management's assessment of
plans and projects and intentions with respect to listings of securities, use
of proceeds and future exploration programs, constitute forward-looking
statements that are subject to numerous risks, uncertainties and other
factors relating to Kaminak�s operations as a mineral exploration company
that may cause future results to differ materially from those expressed or
implied in such forward-looking statements, including risks as to the
completion of the plans and projects. Readers are cautioned not to place
undue reliance on forward-looking statements. Kaminak expressly disclaims any
intention or obligation to update or revise any forward-looking statements
whether as a result of new information, future events, or otherwise.
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