VANCOUVER, BRITISH COLUMBIA--(Marketwire - November 27, 2007) -
Kodiak Exploration Limited (TSX VENTURE: KXL)(FRANKFURT: KX3) is
pleased to announce that it has closed its bought deal financing
announced November 6, 2007, consisting of 2,499,984 flow-through
shares issued at the price of $4.80 each and 11,032,658
non-flow-through shares issued at the price of $3.80 each, raising an
aggregate of $53,924,023. No warrants were issued in connection with
the financing.
National Bank Financial Inc. and Cormark Securities Inc. co-led the
syndicate of underwriters for the financing, which included CIBC
World Markets, RBC Capital Markets, Dundee Securities Corporation,
Paradigm Capital Corporation and Raymond James Ltd. Insiders of
Kodiak and relatives, close friends and associates of insiders of
Kodiak purchased approximately $5,000,000 of the private placement.
As announced on November 7, 2007, the financing was oversubscribed
and the underwriters' original overallotment option was increased to
accommodate requests for increased participation. The Underwriters
have been paid a cash underwriting fee equal to 6% of the funds
raised. All shares issued pursuant to the financing will be subject
to a four month hold period expiring March 27, 2007.
Information on Kodiak and its projects may be reviewed on its website
at www.kodiakexp.com.
On behalf of the Board of Directors KODIAK EXPLORATION LIMITED
William S. Chornobay, Director, President
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts:
Kodiak Exploration Limited
William S. Chornobay
Director, President
(604) 688-9006
Email: info@kodiakexp.com
Website: www.kodiakexp.com
