Kerr Mines

The transaction is expected to be completed on or about June 27, 2014, upon satisfaction or waiver of all of the conditions set out in the arrangement agreement entered into by American Bonanza, Kerr Mines and a wholly owned subsidiary of Kerr Mines on April 10, 2014, including approval by the Supreme Court of British Columbia at a hearing scheduled for June 25, 2014, and the approval of the Toronto Stock Exchange. Upon completion of the transaction, Kerr Mines, through Kerr Mines Subco, will acquire all the outstanding shares of American Bonanza through the issuance of 0.53 of a Kerr Mines common share in exchange for each American Bonanza common share. Following completion of the transaction, American Bonanza will be delisted from the TSX.

Full details of the terms of the transaction are set out in American Bonanza's management information circular dated May 16, 2014, which is available on SEDAR.

We seek Safe Harbor.

Kerr Mines Inc (2)
    Symbol§C : KER
Shares Issued 1,323,580,852
Close 2014-07-30 C$ 0.025
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Kerr Mines closes $3-million offering


2014-07-31 16:59 ET - News Release


Mr. Greg Gibson reports

KERR MINES ANNOUNCES CLOSING OF $3MILLION OFFERING

Kerr Mines Inc. has closed a $3-million offering.

Pursuant to the terms of a share purchase agreement dated July 28, 2014, between the company, Pinetree Resource Partnership and Pinetree Capital Inc., Kerr issued 6,666,667 postconsolidation common shares to the partnership at a deemed price of 45 cents per Kerr share in exchange for 6,666,667 common shares of Pinetree at a deemed price of 45 cents per share. The Kerr and Pinetree shares are subject to a four-month hold period.

Kerr paid finders' fees consisting of a cash commission equal to 5 per cent of the gross proceeds of the offering paid through the issuance of 333,333 postconsolidation Kerr shares and issued broker warrants to acquire up to 333,333 Kerr shares at a price of 60 cents per Kerr share until July 31, 2016.

We seek Safe Harbor.

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