CROWFLIGHT MINERALS INC. ("Crowflight" or the "Company") (TSX: CML) announces today that it has closed the second tranche of its previously announced private placement financing with Kingplace Enterprises Limited ("Kingplace") for gross proceeds of approximately Cdn$8,816,695. Pursuant to the second tranche, Crowflight has issued 35,266,779 common shares of the Company at a price of $0.25 per share. The primary intended use of the proceeds from the financing will be the continued development of the Bucko Lake Project and the balance for general corporate purposes.
Kingplace is a private British Virgin Island company controlled by Chinese businessman, Shaofeng Ge. Kingplace is seeking strategic investments in mining opportunities. Kingplace approached the Company though Hebei Wenfeng Iron and Steel Co., Ltd. ("Hebei Wenfeng"), a significant Chinese steel producing company. Hebei Wenfeng initially approached Crowflight to express its interest in potentially making either an offer to acquire the outstanding shares of Crowflight or a strategic investment in Crowflight. Following ... http://www.crowflight.com/s/...-Kingplace-Private-Placement-Financing
Thread abonnieren
