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Kairos Minerals: Receives firm commitments for $9M placement

September 26, 2020

Kairos Minerals (KAI) has received firm commitments to undertake a $9 million share placement
The funds will raised via the issue of 180 million fully-paid ordinary shares to sophisticated and professional investors at five cents each
Participants will also receive one free attaching option for every two shares subscribed for, exercisable at eight cents with expiry three years from issue
Kairos will use the funds to progress drilling at the Fuego prospect and undertake campaigns at the Mt York, Kangan, and Skywell projects
The money will also go towards exploration and regional activities at the Pilbara Gold Project as well as general working capital
Kairos is steady on the market and shares have been trading for 6.6 cents since September 18