King River Receives Firm Commitments for Placement to Raise $2Mn, Funds to Aid Gold Exploration Programmes

  • Jul 17, 2020 AEST
  • Team Kalkine

Australian exploration company, King River Resources Limited (ASX: KRR) has received firm commitments for a placement of 66,666,669 shares at $0.03, in addition to one free attaching option for every two shares issued. The Company is targeting to raise $2 million from professional and sophisticated investors.

The exercise price of options is $0.06 with an expiry date of 31 July 2022.

The Company plans to utilise the funds raised for advancing the gold exploration programmes at Mt Remarkable and Tennant Creek projects.

It is expected that placement shares will be issued by 27 July 2020, and the placement options, on or around the same time, as the Security Purchase Plan options are to be issued.

On 17 July 2020 (AEST 01:37 PM), KRR stock was trading upward by 3.03% to $0.034.

 


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