Golden Knight Resources (TSE) has entered into a flow-through private placement agreement with Teck Corp. (TSE) for aggregate proceeds of up to $5 million.
The funds will be used to finance Golden Knight’s 40% share of the anticipated costs of surface and underground exploration to Feb 28, 1989, on the company’s Casa Berardi gold property, jointly held with Inco.
Teck currently holds 30% of the issued shares of Golden Knight. If the maximum number of shares is issued to Teck under the flow- through agreement, Teck’s percentage shareholding would be increased by 2.6%. The agreement with Teck and the issuance of shares are subject to the usual regulatory approvals and directives.
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