Australian specialty metals explorer, King River Resources Limited (ASX: KRR) has announced a Security Purchase Plan (SPP), which allows each existing shareholder to purchase up to $30,000 worth of additional shares in the Company.
Under this SSP, each share has an issue price of $0.033, representing a 20.0% discount on VWAP price of KRR shares traded on the ASX over the last five days, and an 18.5% discount on 22 June 2020 closing price.
For every three shares issued, the SPP offer will also include one free attaching option having an exercise price of $0.06 and expiry date of 31 July 2022. The offer is due to open on 7 July 2020 and close on 31 July 2020.
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