FinTechFunding

KGL Resources: Completes $9.5M entitlement offer

  • KGL Resources (KGL) has completed a non-renounceable entitlement offer and raised over $9.5 million
  • On February 22, the company revealed it had completed a $12 million strategic placement and was looking to raise up to $11.77 million via an entitlement offer
  • All up, nearly 23 million shares taken up, representing a take-up of roughly 81.3 per cent
  • KGL previously stated it would use the funds from both the placement and entitlement offer to enhance its Jervois Copper Project
  • In particular, the company will optimise mine planning, undertake financing and complete a mine study
  • KGL has ended the day in the grey with shares trading at 71 cents
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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