VANCOUVER, BC--(Marketwired - January 06, 2017) - Kiska Metals Corporation (TSX VENTURE: KSK) ("Kiska") is pleased to announce the closing of its previously announced non-brokered private placement offering (the "Offering") to AuRico Metals Inc. ("AuRico"). Under the Offering, AuRico subscribed for 12,900,000 common shares in the capital of Kiska (the "Offered Shares") representing approximately 9.98% of the outstanding common shares of Kiska after giving effect to the Offering, at a price of C$0.055 per share for total gross proceeds to Kiska of C$709,500. The proceeds from the Offering will be used for the advancement of Kiska's exploration and development projects and for general working capital purposes.
The Offered Shares are subject to a statutory hold period expiring on May 7, 2017.
Kiska employs the "Royalty and Project Generator" business model to finance exploration, leverage exploration dollars and data, and preserve shareholder equity. Kiska partners its projects with mining and exploration companies who share its vision and commitment with respect to environmentally and socially responsible mineral exploration and development. Kiska holds a high-quality portfolio of gold and copper projects throughout North America, large technical databases, and an extensive royalty portfolio.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained or incorporated by reference in this news release constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements contained in this news release include, without limitation, statements with respect to: any information as to the completion of the plan of arrangement, the completion of the Offering as well as regulatory approvals. The words "anticipates", "estimates", "expects", "focus", "forecast", "indicate", "initiative", "intend", "model", "opportunity", "option", "plans", "potential", "projected", "prospective", "pursue", "strategy", "study" (including, without limitation, as may be qualified by "feasibility" and the results thereof), "target", "timeline" or variations of or similar such words and phrases or statements that certain actions, events or results "may", "could" or "would", and similar expressions identify forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. All of the forward-looking statements made in this news release are qualified by these cautionary statements. These factors are not intended to represent a complete list of the factors that could affect AuRico, Kiska, the Offering or the plan of arrangement. Kiska disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.