Kombat Copper Inc. (TSXV:KBT) has completed the first tranche of its previously announced private placement financing of subscription receipts.
According to the company’s press release:
The first tranche closing consisted of 29,037,000 subscription receipts (the “Subscription Receipts”) at a purchase price of $0.10 per Subscription Receipt for gross proceeds of $2,903,700. The proceeds have been placed in escrow pending satisfaction of certain conditions (the “Escrow Release Conditions”), as set out below. At such time, each Subscription Receipt will be automatically exercisable into one unit.