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Kinetiko Energy Ltd Completes AUD 3 Million Capital Raising


Sunday, 16 Dec 2012 05:20pm EST 

Kinetiko Energy Ltd announced that it has completed a placement to institutional and sophisticated investors to raise gross proceeds of approximately AUD 3 million. Proceeds from the placement will be used to fund the Company's pilot and core hole drilling programs at the Amersfoort Project (49% KKO interest); structural studies; and investment in the preliminary appraisal of its Technical Cooperation Permits and additional working capital. The placement was priced at AUD 0.18 per share, representing a 10.5% discount to the 5-day VWAP1 and will result in the issue of approximately 16.5 million new shares. 

Company Quote

0.045
-0.0010 -2.17%
15 Oct 2014