Business
Kincora Closes Oversubscribed Offering
Kincora Closes Oversubscribed Offering Canada NewsWire VANCOUVER, June 11, 2019 ...
About this update from Kincora Copper Limited
[{"type":"text","content":"\n\n\n\nKincora Closes Oversubscribed Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, June 11, 2019\n\n\n\n/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\nSubscriptions for $6.25m from sophisticated investors Cornerstone investments from two large institutional natural resource investors Strong support from insiders as well as existing and new investors Proceeds will support extensive drilling at 5 independent and large scale porphyry targets within Kincora's highly prospective tenements in the Southern Gobi copper belt Oversubscribed raising follows comprehensive third party expert due diligence that validates key strengths: world-class team, highly prospective location, exploration track-record, drill targets and low cash overheads VANCOUVER, June 11, 2019 /CNW/ - Kincora Copper Ltd. (the \"Company\", \"Kincora\") (TSXV:KCC) is pleased to announce that further to the news release of May 7, 2019 detailing a private placement of units (the \"Units\") at $0.10 to raise proceeds of up to $6,000,000 (the \"Offering\"), the Offering has closed and was oversubscribed with total subscriptions of $6,251,500. \nProceeds from the Offering will accelerate Kincora's exploration and expansion strategy, including up to 18,000 metres of drilling, and mobilisation for drilling activities has commenced. In 2016, Kincora surpassed Rio Tinto and related entities to become the dominant landholder in the Southern Gobi, attracting a world-class technical team and commencing the first modern systematic district scale exploration in this highly prospective under-explored copper belt. Kincora will now initiate the first target testing drilling program focused on 5 large and independent targets within the wholly owned Bronze Fox and East Tsagaan Suvarga (\"East TS\") projects.\nApproximately 60% of subscriptions were anchored by two large natural resource institutional investors and associated groups, who are anticipated to represent over 40% of Kincora's share cap...