iHub Mining Sector Entrance Lobby

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“...Kerr Mines Announces Closing of Oversubscribed $6,000,000 Private Placement...”

Kerr Mines Inc. (TSX:KER) (OTCQB:KERMF) (FRANKFURT:7AZ1) is pleased to announce the closing of an oversubscribed non brokered private placement (see press release dated November 29, 2017).


In connection with the placement, the Company will issue 20,371,869 common shares of the Company at a price of $0.30 per Share for total gross proceeds of $6,111,564. Proceeds exceeded the originally announced target of $5 million due to high investor interest. The Company will use the net proceeds from the Offering to continue advancing its flagship Copperstone Mine in Arizona to a production restart decision.


“This financing is another positive step forward in achieving our strategic objectives,” stated Claudio Ciavarella, Kerr’s Chief Executive Officer. “With the success of the first phase of our exploration program we have gained further confidence in our ability to move the project towards the successful completion of our updated resource and Pre-feasibility Study in Q1 2018 and subsequent production decision.”

In connection with the Offering the Company paid finder fees totaling $209,387 to certain eligible persons.

http://theprospectornews.com/?p=17867

http://kerrmines.com/wp-content/uploads/Kerr-Mines-Corporate-Presentation-October-2017.pdf

http://kerrmines.com