FINANCE – Kivalliq Energy Corp. Jan. 28 said Lumina Capital Limited Partnership, an investment partnership held principally by Vancouver mining entrepreneur Ross Beaty, will subscribe for about C$500,000 of a total C$2 million non-brokered private placement in Kivalliq. The proceeds from this financing will be used to explore and develop Kivalliq’s high-grade Lac Cinquante uranium deposit, located within the Angilak Project in Nunavut, Canada, and for general working capital purposes.

The financing will consist of 10 million units, at a price of C20 cents per unit. Each unit consists of one common share and one common share purchase warrant. Each share purchase warrant will entitle the holder to purchase one common share at a price of C35 cents for a period of two years. Upon closing of the financing and should it exercise its warrants, Lumina Capital will own about 9.9 percent of Kivalliq’s shares on a fully diluted basis. Directors and officers of Kivalliq also may participate in a portion of the financing. “We are very pleased to have Lumina Capital as a strategic investor as we strive to rapidly advance the Lac Cinquante uranium deposit,” said Kivalliq’s President and CEO John Robins. “Lumina Capital’s team has consistently demonstrated an ability to identify resource projects with unrealized, yet significant, value at an early stage in the development cycle. We are excited that Lumina has recognized the unique opportunity offered by Kivalliq.”