Kola Closes Private Placement Financing
KOLA MINING CORP.
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7 Phone: +1.604.685.9316 / Fax: +1.604.683.1585
NEWS RELEASE August 12, 2013
KOLA CLOSES PRIVATE PLACEMENT FINANCING
Vancouver, Canada – Kola Mining Corp. (“Kola” or the “Company”) (TSXV:KM) Mr. Nick DeMare, President, reports that the private placement financing (the “Financing”) initially announced by the Company on August 6, 2013 has closed. The Company has issued 1,500,000 units at a price of $0.015 per unit (the “Unit”) for gross proceeds of $22,500. Each Unit consists of one common share and one half of one common share purchase warrant (the “Warrant”). Each whole Warrant entitles the holder to purchase one common share of the Company until August 6, 2018, at five cents per common share during the first year and at 10 cents per common share during years two to five. Securities issued under the Financing have a four-month hold period expiring on December 13, 2013.
The Financing was undertaken subject to TSX Venture Exchange Temporary Relief from Certain Pricing Requirements Notices dated August 17, 2012 and April 12, 2013 (the “Exchange Bulletins”). The Financing has been approved by the Company’s Board of Directors with no Director or Officer participating in the Financing.
Pursuant to the Exchange Bulletins, the Company has received proceeds of $22,500 from the Financing and the proceeds have been used and will be used to pay for filing fees associated with the Financing - $905; to pay the agreed upon settlement amount to past management, US$6,000 and CDN$700; and approximately $14,680 for general working capital.
Company Information
On behalf of the Board,
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7 Company Contact: Nick DeMare +1 (604) 685 9316
“Nick DeMare”
Nick DeMare, President
Forward Looking Statements This Company news release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information available to the Company's management as of the date of this news release. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer or landholders relations, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
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