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KING RIVER RESOURCES LIMITED — Capital/Financing Update 2017
Nov 29, 2017
65203_rns_2017-11-29_1c9ef92f-30bc-47d1-bc14-5f1b6bc2c56f.pdf
Capital/Financing Update
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ASX Announcement
30 November 2017
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Placement
King River Copper Limited (“King River” or “the Company”) (ASX :KRC) is pleased to announce that it has received firm commitments for the placement of 50,000,000 shares at $0.011 to raise $550,000 from professional and sophisticated investors.
The Placement will be undertaken by way of the issue of 50,000,000 shares available within our capacity under LR7.1 and is scheduled for settlement on 8 December2017.
Purpose of new funds
These additional funds will supplement the existing working capital of the Company.
The funds enable the company to complete the current round of metallurgical test work and commence scoping work on the Speewah Vanadium/Titanium project.
These additional funds will also enable the company to plan and book an aggressive timetable to recommence drilling at the Mt Remarkable gold project after the Northern Wet Season.
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254 Adelaide Tce Perth WA 6000 PO Box Z5518, Perth WA 6831
PHONE: +61 (0)8 9221 8055 FAX: +61 (0)8 9325 8088 WEB: www.kingrivercopper.com.au