Kula Gold Limited (ASX:KGD) Raises Additional $1.058 Million
Capital Raising Details
Kula Gold Limited has raised an additional $1,058,000 through its Entitlement Offer Shortfall. The company will issue 211,600,000 new fully paid ordinary shares at $0.005 per share. In total, approximately $1,390,209 has been raised before costs under the Entitlement Offer announced on 6 January 2025.
Purpose and Use of Funds
The funds raised will expedite exploration at Kula’s Mt Palmer Gold Mine Project and provide working capital.
Offer Settlement and Trading
The Shortfall Offer will settle on 25 February 2025, and the new shares are expected to commence trading on the ASX on 27 February 2025. The Shortfall Offer Shares will rank equally with existing ordinary shares.
Additional Terms
A capital raising fee of 6% plus GST will be paid to the Lead Manager on funds raised under the Shortfall Offer, together with 20,000,000 unlisted options exercisable at $0.015 on or before 31 May 2027. The unlisted options will be issued from the Company’s ASX Listing Rule 7.1 placement capacity.
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