- 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
