20 April 2023 Placement Krakatoa Resources Ltd (ASX: KTA) (“Krakatoa” or “the Company”) is pleased to announce that it has received firm commitments to raise $560,000 (before costs) via a placement (“Placement”) of 18,666,667 ordinary shares at an issue price of $0.03 per share (“Placement Shares”). The Placement has been cornerstoned by the Company’s two current substantial shareholders who have been long term supporters of the Board and management team. The funds raised will be used to support the continued exploration at Mt Clere Rare Earths Project and working capital. Allotment of the Placement Shares is anticipated to occur on or about 28 April 2023 under the Company’s existing Listing Rule 7.1 capacity. The Company will pay a 6% capital raising fee on the funds raised to Shaw and Partners who acted as Broker to the Placement.
*thats a pretty crappy placement expect another one soon* Be careful
