Kirrin Resources Inc. (TSX-V: KYM) plans to completed a private placement for up to 1,666,667 units. Each unit may be sold at $0.12 which would results in total gross proceeds of up to $200,000. The company plans to use its proceeds for general working capital purposes.
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Each unit contains 1 common share of Kirrin and 1 common share purchase warrant. A whole warrant can be exercised for 1 common share at a price of $0.14 per common share for an 18 month period from the date of issuance.
Kirrin is engaged in exploration for uranium and rare earth elements in Newfoundland & Labrador and Quebec and in the expansion of its portfolio through acquisition, merger, strategic partnership or joint venture.
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