Kin Mining NL announces a Placement and Entitlements Offer to raise AU$20.4 million

Kin Mining NL (ASX: KIN) announced a capital raising of approx. AU$20.4 million to support the next phase of growth at its 100%-owned Cardinia Gold Project. The placement comprised the issue of approx. 129.9 million shares at an issue price of AU$0.075 to raise AU$9.7 million, in which AU$4.7 million was contributed by previous shareholders and AU$5.0 million from new investors, indicating continuing strong support of the company’s strategy. The issue price represents a 16.7% discount to the last traded price and a 17.7% discount to the 10-day VWAP.

In addition to the placement, the company also announced a non-renounceable entitlement offer to raise up to AU$10.7 million at AU$0.075, providing all shareholders with the opportunity to participate in the company’s next phase of growth. The funds raised via both placement and entitlement offer will support its balance sheet, putting the company in a strong position to finish the next growth phase at the CGP and follow up on the new discoveries and targets recognized via the company’s highly successful exploration programs over the previous three years.

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