Markets

UPDATE: Kelt Exploration Announces $94.35 M Equity Financing; Shares Hit New Yr High in Early Trade

A generic image of a pen a chart
Credit: Shutterstock photo

Kelt Exploration Ltd. (KEL.TO) today announced a brokered and non-brokered equity financing for gross aggregate proceeds of $94.35 million.

After the Private Placements and after incurring the expenditures forecast in the Company's 2013 capital budget, Kelt estimates that it will have a positive working capital surplus of approximately $48.0 million at the end of 2013. Kelt expects it will have sufficient financial flexibility to carry out its operations during the year and pursue new opportunities as they arise.

Kelt hit a high of $6.84 in early trade, but has come down to trade at $6.15, above its previous yr high of $5.90.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

MTNewswires

Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

Learn More