Kraken Energy Raises Funds in Private Placement

Ivor Exploration, Inc. (TSE:UUSA) has released an update.

Kraken Energy Corp. has successfully completed the initial tranche of its non-brokered private placement, raising $473,300 by issuing over 5.2 million units at $0.09 each, with each unit including a share and a half-warrant. These funds are earmarked for general corporate activities and the development of the company’s properties. The placement also saw participation from the company’s chairman and included finder’s warrants, all subject to a standard four-month holding period.

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