Kirkland Lake Gold Announces Agreement for Strategic Investment in Novo Resources Corp.
Kirkland Lake Gold Ltd. Common Shares (KL)
Last kirkland lake gold ltd. common shares earnings: 2/20 02:09 am
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Company Research
Source: Marketwire
TORONTO, ONTARIO -- (Marketwired) -- 09/05/17 -- Kirkland Lake Gold Ltd. ("Kirkland Lake Gold" or the "Company") (TSX:KL)(NYSE:KL) is pleased to announce that the Company has entered into a term sheet agreement (the "Agreement") with Novo Resources Corp. ("Novo") to acquire 14,000,000 units (each a "Unit") at a price of CAD$4.00 per Unit for a total cost of CAD$56,000,000 pursuant to a private placement financing (the "Financing"). Each Unit consists of one common share and one common share purchase warrant (a "Warrant"), entitling the Company to purchase one additional common share of Novo at a price of $6.00 per share for a period of 36 months from the closing date (the "Warrant Expiry Date"). In the event that, during the period following 12 months from the closing date, the volume-weighted average trading price of the Novo common shares on the TSX Venture Exchange exceeds $12.00 per share for any period of 20 consecutive trading days, Novo may accelerate the
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