Ann: Placement, page-9

You made me check again... 40,000,000 at 3c (or $.03).
phew..

Well I don't like dilution, but this is not too terrible.. they need $$ to advance... placement is only 10% ( 0.3 c) below friday's price ... *might* put a floor under the price at 0.03

It gets things moving for speewah and Mt Remarkable... not bad at all.


Placement
King River Copper Limited (“King River Copper” or “the Company”) (ASX :KRC) is pleased to announce that it has received firm commitments for the placement of 40,000,000 shares at $0.03 to raise $1,200,000 from professional and sophisticated investors.
The Placement will be undertaken by way of the issue of 40,000,000 shares available within our capacity under LR7.1 and is scheduled for settlement on 2 February 2018 .
Purpose of new funds
These additional funds supplement the existing working capital requirements of the Company.
King River Copper Ltd is now fully funded to complete the current metallurgical test work (expected late Jan/Feb 2018), complete the Concept / Scoping Study on the Speewah Vanadium / Titanium / Iron project (expected late March 2018) and to conduct an extensive RC (with some diamond) drilling that will follow up the shallow high grade Mt Remarkable gold discovery (drilling subject to access, but anticipated April / May 2018).