• Koonenberry Gold shares commence trading on ASX.
• The Company is focused on exploration at the Koonenberry Gold Project in NSW.
• With the successful listing, a multi-disciplined exploration programme commences.
Koonenberry Gold Limited (ASX: KNB) is pleased to announce that its shares commenced trading on the Australian Securities Exchange (ASX) at 12:30 PM AEST today, following completion of an initial public offer (IPO) pursuant to its Prospectus dated 2 July 2021 (the Offer).*
KNB raised $8,000,000 pursuant to the offer under its prospectus dated 2 July 2021 by the issue of 40,000,000 shares at an issue price of $0.20 per share.
Koonenberry is an Australian mineral exploration and development company with a focus on exploring and developing the Koonenberry Gold Project. Early-stage exploration has been promising and has identified a pipeline of prospective targets.
The area has shown huge prospectivity and there has been minimal exploration undertaken to date. Koonenberry is targeting gold discovery in an emerging province geologically similar to the multi-million ounce producing Victorian Goldfields.
The Company will now proceed to mobilise its planned multi-disciplined exploration programme. With the current travel restrictions across interstate borders there has been a requirement to revise the plan in the short term to factor in the travel restrictions.
The Company will begin initial exploration programmes during the coming weeks, aimed at systematically designing a geological model to provide a defined drilling programme to test multiple priority targets.
“I would like to thank the entire Koonenberry team, our advisors at Ventnor Capital and SRG Partners and the more than 300 shareholders who now join us on this next phase of the Company’s development,“ Koonenberry CEO Karen O’Neill said.
Authorised by the Board of Koonenberry Gold Limited.
* Refer to Koonenberry Gold Limited Prospectus dated 2 July 2021.