$12.4M Equity Raising to Accelerate Jervois Exploration

13 September 2017

$12.4M Equity Raising to Accelerate Jervois Exploration

Placement to raise approximately $6.9M at 30 cents per share

RCF Opportunities Fund L.P. (RCF Opportunities) subscribed for $3.0M

Existing major shareholder KMP Investments subscribed for $1.7M

Executive Chairman – Denis Wood has provided a binding commitment for $1.2M, subject to shareholder approval

Pro rata non-renounceable entitlement offer to raise up to $5.5M

1 new share for every 11 held on the record date at 30 cents per share

Funds raised will place KGL in a strong financial position to continue its successful exploration program at Jervois Copper Project with a pro-forma cash balance of $17.1M

CLICK HERE for full details of this market announcement 

SOURCE: https://www.kglresources.com.au

Publish Date: 
Wednesday, September 13, 2017 - 14:30
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