UPDATE: Kelt Exploration Announces $94.35 M Equity Financing; Shares Hit New Yr High in Early Trade
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.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.