Business
Koonenberry Gold Limited - Lion Selection and Lowell Resources Fund increase position in KNB via Datt Capital exit
Koonenberry Gold Limited - Lion Selection and Lowell Resources Fund increase position in KNB via Datt Capital
About this update from Koonenberry Gold Limited
[{"type":"text","content":"Koonenberry Gold Limited (ASX: KNB) (Koonenberry or the Company) is pleased to advise major shareholders Lion Selection Group Limited ('Lion Selection') and Lowell Resources Fund ('Lowell') have today agreed to purchase 35 million ordinary shares in Koonenberry from Datt Capital Pty Limited and its associates ('Datt') through an off-market purchase.\nThis share purchase increases Lion Selection's position to a 9.2% total interest in Koonenberry, with this purchase seen as further validation of Koonenberry's prospects by a respected fund manager with a strict investment thesis. Shares sold to Lion Selection and Lowell are the remaining Koonenberry shares held by Datt, which has now exited Koonenberry's register. The 35 million ordinary shares transferred will continue to be escrowed until 28 November 2025. Further to the ASX announcement dated 15 May 2025, the Company is pleased to advise that Mr George Rogers has withdrawn his notice of resignation, and he will remain on the Koonenberry Board.\nKoonenberry Chair Paul Harris commented: 'George Rogers was a co-founder of Koonenberry Gold and was instrumental in Koonenberry's acquisition of its Enmore and Lachlan projects in November 2024. The Board is pleased to retain his involvement, as his contributions to the Company to date have ensured Koonenberry is now well capitalised and poised for further exploration success at Enmore and across its project portfolio.' In line with good governance practices, the Board is committed to refreshing its membership and enhancing the skills mix to ensure it continues to act in the best interests of shareholders and all stakeholders as Koonenberry moves into its next stage of development\nThe Board recognises the importance of reviewing its composition to ensure it continues to have the skills and experience required to support the Company's current and future growth. The Board continues to evaluate director candidates with the necessary industry & capital markets experience to govern and strengthen the Company as it develops.\nContact:Dan Power\nTel: +61 8 6245 9869\nEmail: [email protected]\nWeb: www.koonenberrygold.com.au(C) 2025 Electronic News Publishing, source ENP Newswire","length":2874,"tagName":"div"}]