International Kirkland Minerals Announces Closing Of Private Placement Offering
VANCOUVER, BRITISH COLUMBIA -- International Kirkland Minerals Inc. (“IKI” / the “Company”) (TSX VENTURE: IKI) announces that it has closed the private placement offering of 2,000,000 units at $0.15 each announced on February 1, 2007. Each unit is comprised of one common share of the Company and one half share purchase warrant. One whole warrant entitles the holder to acquire one further common share of the Company at $0.20 per share for a one year term. All of the shares and warrants issued pursuant to the offering are subject to a four-month hold period from the date of issuance.
The unit offering consists of 90% flow through shares and 10% non flow-through shares. Accordingly, at least $270,000 of the $300,000 derived from the offering will be applied to the Company’s 588 sq km Rupert River Uranium properties located in northern Quebec, Canada.
In connection with the offering, the Company paid a 10% finders fee and issued a total of 200,000 broker’s warrants exercisable for a one year term at $0.15 each.
On Behalf of the Board
Dan M. Clark, President
Stock Options: 1,490,000 @ $0.10 / 180,000 @ $0.08 / 50,000 @ $0.16
Shares Issued: 53,838,858
Restricted Shares: 7,000,000
Warrants: 9,857,143 @ $0.10
The TSX Venture Exchange neither approves nor disapproves of the information contained herein.
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