Kali Metals (ASX:KM1) has secured $7 million through a strategic share placement to institutional and sophisticated investors to accelerate its 2026 exploration programs.
The placement involved the issuance of 39 million new shares at $0.18 each, representing a 16.2% discount to the 5-day volume-weighted average price.
Managing Director Paul Adams stated that the capital will primarily fund the Phase 2 drilling program at the Marble Bar Gold Project—following high-grade results from its maiden campaign—and advance lithium exploration at the Higginsville Project.
The company's directors further demonstrated internal confidence by committing $95,000 to the raise, with settlement expected by Feb. 16.
At the time of reporting, Kali Metals' share price was $0.18.