Koonenberry Gold Raises $2.35M for Exploration

Koonenberry Gold Ltd (ASX:KNB) announced a successful capital raise of AU$2.35 million, with Lion Selection Group Limited as a cornerstone investor. The funds will be used for extensive drilling programs at the Atlantis Cu-Au Prospect and the Bellagio Au Prospect, both showing promising mineralization but yet to be drilled. The Placement, attracting professional investors, will issue 50 million shares at AU$0.014 per share, including free attaching options.

The fully underwritten Entitlement Offer allows existing shareholders to buy 6 new shares for every 7 held, also at AU$0.014 per share, accompanied by free attaching options. The Rights Issue is fully underwritten, with provisions for sub-underwriters. Funds will support exploration, drilling, and general working capital. Upon completion, the company's share capital will increase significantly.

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