Khan Announces Private Placement of Shares
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Khan Resources Inc. (“Khan” or the “Company”) (CSE:KRI) announces that it intends to raise approximately $2,000,000 in a non-brokered private placement by issuing approximately 5,000,000 common shares of the Company at a price of $0.40 per common share.
The offering is expected to close in May, 2015 and any securities to be issued in connection with the offering will be subject to a hold period of 4 months and 1 day under applicable securities legislation.
Khan intends to use the proceeds of the offering to: (i) advance proceedings to enforce the collection of a US$104 million arbitration award rendered in March 2015 in favour of Khan and against the Government of Mongolia; and (ii) for general corporate purposes.
