Toronto-listed Canadian firm Kombat Copper has completed a non-brokered private placement financing comprising 11,067,500 units at $0.08 per for a total of $885,400. Each unit comprises one common share in the capital of the firm and one warrant which entitle the holder to acuire one Share (Warrant share) at a price of $0.13 three years after it was used.

The firm added that the closing of placement was still to get the necessary regulatory approvals, including TSX’s.

It added that the placement’s net product will serve to pay operational costs and other costs as well.

In Africa, Kombat Cooper runs the Kombat copper mine in Namibia, opened in 1962 and which produced 12.46 million of ore with a 2.62% copper grade for 45 years. The firm owns 80% of five mining permits in Otavi Mountainlands, an area with high copper grade deposits in Namibia.

Louis-Nino Kansoun