Kinetiko Energy launches A$2 million share purchase plan after raising A$2.8 million from placement
Funds from the placement will be used to advance Kinetiko’s Amersfoort Project, including funding exploration and gas drilling.
Kinetiko is raising up to a further $2 million by offering eligible existing shareholders the right to participate in an SPP.
Kinetiko Energy Ltd (ASX:KKO) has received firm commitments from sophisticated and professional investors to raise about A$2.8 million at 10 cents per share.
In addition to the placement, Kinetiko has launched a share purchase plan (SPP) to offer existing shareholders the right to subscribe for shares worth up to a further A$2 million at the same price as the placement.