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News Releases
| | January 15, 2007
FINANCING - Kootenay Closes $2million Financing
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| | Vancouver, BC -- Kootenay Gold Inc. ("Kootenay") (TSX-V:KTN) is pleased to announce that it has completed an offering of 3,076,925 units ("Units") at $0.65 per Unit pursuant to a private placement (see News Release, December 5, 2006), raising gross proceeds of $2,000,000 CDN. Each Unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at a price of $0.80 per common share until July 15, 2008. The Units are subject to a hold period which expires May 16, 2007. The net proceeds of the offering will be used for the development of the Kootenay's resource properties and working capital requirements. A finder's fee of $90,317 was paid in connection with the offering.
Kootenay previously announced the issuance of 400,000 incentive stock options exercisable for a period of five years at $0.71 per share to various consultants of the Company, at the request of the TSX Venture Exchange the price has been adjusted to $0.84.
About Kootenay
Kootenay is an emerging gold and silver company focused on acquiring 100% interests in mineral properties through acquisitions and exploration discoveries. During the past four years Kootenay has successfully made four new mineral discoveries in the Rossland Republic Gold Trend of British Columbia. In addition to its Canadian mineral discoveries, the company acquired the Santa Lucia Property, the Sabina Property and former producing Promontorio Mine in Northwest Mexico.
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For additional information, please contact:
James McDonald, CEO at 403- 238-6986
Ken Berry, President at 604-683-2214; 1-888-268-8688
Visit Kootenay's website at: www.kootenaygold.ca
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. |
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| | You can view the Next News Releases item: Thu Mar 1, 2007, <html><FONT COLOR="0066CC"><b>GENERATIVE - </b></font></html> Exploration update on the Connor Creek Property
You can view the Previous News Releases item: Tue Dec 19, 2006, <html><FONT COLOR="FF6600"><b>PROMONTORIO - </b></font></html>Kootenay Receives Technical Report on Promontorio Property
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