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News Releases
| | February 10, 2006
FINANCING - Kootenay Announces Closing of Offering
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| | Vancouver, British Columbia -- Kootenay Gold Inc. ("Kootenay") (TSX-V:KTN) announces that it has completed an offering of up to 793,500 units ("Units") by the sale of 793,500 Units at $0.45 per Unit pursuant to a private placement (see News Release, January 4, 2006 and News Release of January 13, 2006), raising gross proceeds of $357,075. Each Unit consists of one common share and one common share purchase warrant. Each warrant shall entitle the holder thereof to acquire one additional common share at a price of $0.50 per common share for a period expiring 12 months from the date on which the warrant is issued, subject to certain restrictions. The Units are subject to restrictions on resale for a period of four months from the closing date.
The net proceeds of the offering will be used to generate acquisitions, development of Kootenay's resource properties and working capital requirements.
For further information, please contact:
KOOTENAY GOLD INC.
Jim McDonald, CEO at 403-238-6986
or
Ken Berry, President at 604-683-2214
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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