yup, own a shed full. A bit of a play and prey job at the moment but I am in large in this one. They just closed the recent PP above market with insiders only.
I see these PP'ers selling market purchases and holding PP shares for the near future. That should cap or allow people to buy at or around current prices.
They have three distinct targets, shear-hosted, low grade bulk tonnage and a base metel Copper/Zince. They are drilling all of them. The Shear-hosted stuff is raisen cake, if they hit a raisen then well are talking multiple bagger here IMO.
MC is still 5 milllion.
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KODIAK EXPLORATION LIMITED Quick Quote: KXL 0.30 (-0.02)
Kodiak Exploration Limited: Kodiak Exploration Ltd. Announces $992,000 Private Placement
8/24/04
Aug 24, 2004 (M2 PRESSWIRE via COMTEX) --
non-brokered private placement of its securities to raise $992,985.70 at prices ranging from $0.32 to $0.40. The Company will sell 1,500,000 common shares for $0.32 per share, 1,074,245 Units for $0.35 per Unit and 342,500 Flow-through Shares for $0.40 per Flow- through Shares.
Each Unit will consist of one common share and one non-transferable share purchase warrant. Each Flow-through Share will consist of one common share which is a flow-through share for tax purposes and one non-transferable share purchase warrant. Each warrant will be exercisable to acquire one additional common share of the Company (which is not a flow-through share) for $0.50 for one year after closing; provided that if at any time after four months from the closing date, the Company's shares have a closing price of $0.75 or more for at least ten (10) consecutive trading days on the TSX Venture Exchange, the Company shall be entitled to give notice to the holders of warrants that the warrants will expire 30 days from the date of such notice if not exercised before then.
No finder's fee is payable in connection with the private placement. One insider is participating in the private placement for $100,000 worth of non-flow-through Units. No "control persons" (as defined in Policy 4.1 of the TSX Venture Exchange) or new insiders will be created as a result of the private placement.
The proceeds from the private placement are intended to be used to pursue further exploration of the Company's Knucklethumb project and for general working capital. The private placement is subject to acceptance of a filing in respect of same by the TSX Venture Exchange.
KODIAK EXPLORATION LIMITED On behalf of the Board of Directors William S. Chornobay, Director, President & COO
