Kalamazoo Resources (ASX:KZR) announced a $10 million equity raising, comprising firm commitments of $8 million through a placement and a concurrent share purchase plan to raise up to a further $2 million, both priced at $0.17 per fully paid ordinary share.
The placement, supported by sophisticated and professional investors, will see the issue of 47.1 million new shares and is expected to settle on Jan. 6, 2026, with allotment around Jan. 7, 2026, while the SPP will allow eligible shareholders to apply for up to $30,000 in shares without brokerage, with directors indicating their intention to participate.
Proceeds from the offer will be used to advance resource delineation and exploration drilling, progress the Mt Olympus pre-feasibility study, support ongoing exploration activities and provide general working capital.