Kinetiko Energy Ltd. (AU:KKO) has released an update.
Kinetiko Energy Ltd. is launching a renounceable entitlement offer, allowing shareholders to purchase one new share for every sixteen they own, at $0.06 per share, aiming to raise approximately $5.06 million. The capital raised is designated for advancing gas exploration activities and general corporate purposes. Shareholders in Australia, New Zealand, and certain other regions are eligible to participate, with additional shares available in case of a shortfall.
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