- Kingwest Resources (KWR) has announced a one-for-five non-renounceable rights issue to raise up to $3.3 million
- Under the offer, shareholders can subscribe for one new share for every five held at a price of 13.5 cents each
- Further, the offer fully underwritten by Canaccord Genuity, which will receive a $30,000 corporate advisory fee
- The offer will open on September 2, close on September 11, and shares will issued on September 18
- Once finalised, and post completion of the Goongarrie Lady non-core asset divestment, Kingwest expects to have a cash balance of more than $6 million
- Kingwest is currently steady on the market and shares are trading for 14.5 cents each at 12:18 pm AEST
