Kenadyr Mining Closes Private Placement

 

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

VANCOUVER, British Columbia, May 30, 2018 (GLOBE NEWSWIRE) -- Kenadyr Mining (Holdings) Corp. (TSX-V:KEN) (OTC-MKTS:KNDYF) (FRA:KM0) (the “Corporation” or “Kenadyr”) is pleased to announce that further to its May 28, 2018 news release, the Company has closed the non-brokered private placement of units of the Company (the “Units”) at $0.20 per Unit (the “Private Placement”).

Pursuant to the Private Placement Kenadyr issued 8,360,000 Units for aggregate gross proceeds of $1,672,000. Each Unit consisted of one common share in the capital of the Company (the “Shares”) plus one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share at a price of $0.35 on or before May 30, 2020.

All securities issued in connection with the Private Placement are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on October 1, 2018.

Proceeds from financing will be used for exploration and evaluation of mineral properties and general corporate purposes.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.

On behalf of Kenadyr Mining (Holdings) Corp.

“Alexander Becker”

Dr. Alexander Becker
Chief Executive Officer and Director

For more information, visit www.kenadyr.com or contact Kevin Ma, CFO at info@kenadyr.com or (604) 687-7130.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.