K2 Gold Financing
K2 Gold Corp, Corporation just submitted form D because of $350,530 equity financing. This is a new filing. K2 Gold was able to finance itself with $350,530. That is 100.00% of the round of financing. The total offering amount was $350,530. The private financing document was filed on 2016-11-07. The reason for the financing was: Sale of 1,877,000 Units at a price of CDN $0.25 (each Unit consists of one common share and one-half of one nontransferable common share purchase warrant). Bank of Canada noon exchange rate used as of 10/27/16 of CDN $1.00 for USD $0.7470..
K2 Gold is based in British Columbia – Canada. The company’s business is not disclosed. The SEC form was filed by Stephen Swatton President & CEO. The company was incorporated in 2011. The filler’s address is: 1430-800 West Pender Street, Vancouver, A1, British Columbia, Canada, V6c 2V6. John Robins is the related person in the form and it has address: 1430-800 West Pender Street, Vancouver, A1, British Columbia, Canada, V6c 2V6. Link to K2 Gold Filing: 000158396216000004.
Analysis of K2 Gold Offering
On average, startups in the not disclosed sector, sell 67.77% of the total offering size. K2 Gold sold 100.00% of the offering. Could this mean that the trust in K2 Gold is high? The average offering size for companies in all industries in our database is $3.05 million. The offering was 88.51% smaller than the average of $3.05 million. Of course this should not be taken as negative. Companies raise funds for different reasons and needs. The minimum investment for this offering was set at $0. If you know more about the reasons for the financing, please comment below.
What is Form D? What It Is Used For
Form D disclosures could be used to track and understand better your competitors. The information in Form D is usually highly confidential for ventures and startups and they don’t like revealing it. This is because it reveals amount raised or planned to be raised as well as reasons for the financing. This could help competitors. Entrepreneurs usually want to keep their financing a ‘secret’ so they can stay in stealth mode for longer.
Why Fundraising Reporting Is Good For K2 Gold Also
The Form D signed by Stephen Swatton might help K2 Gold Corp’s sector. First, it helps potential customers feel more safe to deal with a firm that is well financed. The odds are higher that it will stay in the business. Second, this could attract other investors such as venture-capital firms, funds and angels. Third, positive PR effects could even bring leasing firms and venture lenders.
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