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| | Wed Nov 25, 2009
Kalimantan Gold plans private placement
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| | NR2009-10
Kalimantan Gold Corporation Limited plans to raise up to £350,000 from a private placement financing from the sale of up to 12,068,966 common shares at a price of C$0.05 (£0.029) per share. The private placement is subject to compliance with applicable securities laws and to receipt of regulatory approval. The Company's brokers, Alexander David Securities Limited will assist the Company in this placement.
The Company intends to use the proceeds from the private placement to fund its ongoing gold and coal exploration programs in Indonesia, as well as general working capital purposes.
Finders' fees on the private placement will be paid within TSX Venture Exchange guidelines.
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
For further information please visit www.kalimantan.com or contact:
Rahman Connelly
Chief Executive Officer
+61 418116955 |
Gerald Cheyne
Corporate Development
+44 (0) 207 731 1806 |
Nick Cottam
Public Relations
+ 44 (0) 1394 384115 |
Alexander David Securities Limited
Bill Sharp/ David Scott
+44 (0) 20 7448 9820 |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
RFC Corporate Finance Ltd acts as KLG's Nominated Adviser for the purposes of its AIM listing, contact Stuart Laing, ph: +618 9480 2506 or email: stuartl@rfc.com.au. |
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