Kincora Closes Private Placement

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[{"type":"text","content":"\n \n \n \n Kincora Closes Private Placement\n \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 Canada NewsWire\n \n \n \n \n \n \n Kincora closes oversubscribed\n \n A$2m\n \n private placement\n \n \n \n \n Lead from largest shareholder, Big Ben Holdings Pty Limited (\"BBH\"), subscribing for\n \n 10.4m\n \n new Chess Depositary Interests (\"CDIs\")\n \n \n Further\n \n 30.2m\n \n CDIs placed with professional and sophisticated investors\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Aug. 8, 2023\n \n \n /CNW/ - Kincora Copper Limited (ASX: KCC) (TSXV: KCC\n \n ) (\n \n \n Kincora\n \n or\n \n the Company\n \n ) has closed its recently announced placement for\n \n A$2 million\n \n via the issuance of 40.6 million new CDIs at\n \n A$0.05\n \n per share\n \n (C$0.045)\n \n , representing a 25.4% and 21% discount respectively to the last closing price and 15-day VWAP of the Company's CDI's on the ASX prior to the Company CDIs being placed in a trading halt on\n \n July 27, 2023\n \n (\"Brokered Placement\"). The Brokered Placement was oversubscribed and includes a one (1) for two (2) free-attaching option exercisable at\n \n A$0.075\n \n \n (C$0.065)\n \n and expiring 24-months from the issue (\"Attaching Options\").\n \n \n \n \n \n \n \n \n \n The proceeds from the placement will be used to continue ongoing drilling efforts across the NSW project portfolio, support corporate development initiatives and for general working capital purposes.\n \n \n The CDI's issued under the Brokered Placement have been issued within existing capacity under ASX Listing Rule 7.1/a and are subject to TSX Venture Exchange approval (conditional approval in place). The Attaching Options and Broker Options are subject to shareholder approval at the AGM to be convened in September.\n \n \n Morgans Corporate Ltd and Bridge Street Capital Partners Pty Ltd have acted as Joint Lead Managers. Associated with the raising 7.5 million unquoted options will be issued at an exercise price of\n \n $0.075\n \n and expiring 24-months from the issue (\"Brok...

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