Knick Announces a $1,501,000 Private Placement

Editor Wednesday, 26 October 2016 08:10

Val d'Or, Quebec, Canada / TheNewswire / October 25, 2016 - Knick Exploration Inc. (TSXV: KNX) ("Knick") is pleased to announce that it has signed an Engagement Letter with Leede Jones Gable Inc. (" LJG "), pursuant to which LJG will act as lead manager, on a commercially reasonable efforts basis, for a proposed private placement offering with accredited investors (the " Offering ") of units and flow-through shares, for a maximum amount of $1,501,000.

Knick will offer a maximum of 6,250,000 units for gross proceeds of $500,000 and a maximum of 9,100,000 flow-through shares for gross proceeds of $1,001,000. Each unit will be offered at $0.08 and shall consist of 1 common share and 1 common share purchase warrant (a " Warrant "). Each Warrant shall entitle its holder to purchase a common share at a price of $0.12 for a period of 12 months. Each flow-through share will be offered at $0.11. LJG also has an over-allotment option to purchase additional units and flow-through shares for an amount corresponding to 15% of the units and flow-through shares included in the Offering.

LJG shall receive a cash commission equal to 8% of the gross proceeds of the Offering as well as broker warrants to acquire a number of common shares equal to 8% of the number of shares sold under the Offering. Each broker warrant shall entitle LJG to purchase a common share at a price of $0.12 for a period of 12 months.

The net proceeds of the Offering will be used for exploration work on the East-West property and for working capital. The closing of the Offering is expected to occur around November 30, 2016 and is subject to the approval of the TSX Venture Exchange. The securities issued pursuant to the Offering will be subject to a 4 month and 1 day hold period.

There are currently 81,750,984 common shares of Knick issued and outstanding.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.


Jacques Brunelle Gordon N. Henriksen

President & CEO Vice President

Knick Exploration Knick Exploration

Val-d'Or, Quebec Val-d'Or, Quebec

819-874-5252 819-874-5252

819-856-1387 819-210-1406

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