Kiska Metals Corporation
TSX VENTURE : KSK

Kiska Metals Corporation

March 03, 2011 16:12 ET

Kiska Metals Corporation New Issue

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Kiska Metals Corporation ("Kiska" or the "Company") (TSX VENTURE:KSK) has today entered into an agreement with a syndicate of underwriters led by Raymond James Ltd. and including: National Bank Financial Inc., Mackie Research Capital Corporation, Scotia Capital Inc., and Union Securities Ltd., under which the underwriters have agreed to buy from Kiska, on a bought deal basis, 13,100,000 units (the "Units") of the Company at a price of $1.15 per Unit, for gross proceeds of $15,065,000 (the "Offering"). The Units are to comprise of one common share and one half of a common share purchase warrant, with each whole warrant exercisable for 1 common share at a price of $1.60 for a period of 24 months from Closing.

The underwriters will have an over-allotment option, exercisable at any time prior to 30 days after the closing date, to acquire up to an additional number of Units equal to 15% of the number of Units sold pursuant to the Offering, at the issue price per Unit. The Company expects to file a short form prospectus with the securities regulatory authorities to qualify the Units for distribution.

The net proceeds are intended to be used further advance exploration on targets within the Whistler Project in Alaska, and for general corporate purposes. Closing of the Offering is expected to occur on or about March 23, 2011.

The Offering is being made in all provinces of Canada other than Quebec, and is subject to the approval of regulatory authorities. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Contact Information

  • Kiska Metals Corporation
    Jason Weber
    President, CEO and Director
    (604) 669-6660
    or
    Kiska Metals Corporation
    Drew Martel
    Manager Investor Relations
    (604) 669-6660