Kibaran Resources Limited: Completion of Share Purchase Plan
15.04.2019 | DGAP
Kibaran Resources Ltd. ("Kibaran" or "the Company") (ASX:KNL) is pleased to report that the Share Purchase Plan ("SPP") opened on 11 March 2019 has been completed.The SPP was available to eligible shareholders of the Company who were registered as holders of shares at 4:00pm (WST) on 26 February 2019.
Each eligible shareholder was entitled to subscribe for up to $15,000 worth of shares in the Company, at an issue price of $0.10 per share.
The Company advises that it has successfully raised $1,000,000 under the SPP, being a subscription for 10,000,000 shares.
Following additional interest from existing shareholders, Kibaran has also agreed to issue 690,000 shares to sophisticated and professional investors to raise a further $69,000. These shares will be issued in accordance with the Company's placement capacity under ASX Listing Rule 7.1.
Together with the share placement conducted in February (refer ASX announcement Successful Completion of Share Placement on 27 February 2019), total funds raised are $2,169,000 and will be applied towards securing debt finance to enable construction to proceed at the Epanko Graphite Project in Tanzania (refer ASX announcement KfW IPEX-Bank Mandated for Epanko Debt Funding on 1 April 2019) and finalising developments to enable construction of the first EcoGraf production facility.
The directors thank all shareholders for their ongoing support as Kibaran continues to advance its graphite businesses.
The new shares are expected to be issued on or before 18 April 2019.
For further information, please contact:
Investors
Andrew Spinks, Managing Director
T: +61 8 6424 9002
MEDIA
Paul Armstrong
Read Corporate
T: +61 8 9388 1474