Kat Exploration Secures up to $5 Million Funding With 50 Million Restricted Shares and Retires REG-D 504 MOUNT PEARL, NL--(Marketwire - January 15, 2010) - Kat Exploration Inc. (PINKSHEETS: KATX) www.katexploration.com
KAT Exploration has secured funding for up to $5 million. The funding contract guarantees $1 million over the next 6 months and the remaining $4 million to be delivered upon agreements within the contract being achieved over the course of the following 6 months of no specific date. The funding is to provide operational support for Kat for at least the next 5 years. The funding was secured with 50,000,000 restricted shares.
Oh ye of little faith. We already secured $5 million in funding just for exploration operations on properties that, as of that point in time, had not had that much proving completed. What makes you think we won't be able to secure twice that after VALE does all that exploration and likes what they see?
Trust me buddy, if Vale says they are willing to put up $40 million towards a feasibility study (because they like what they found in their drilling program), there will be many financiers willing to invest a mere $10 million for KAT Exploration to continue.