Kincora Copper (ASX:KCC, TSXV:KCC) has announced a non-brokered private placement corner-stoned by leading North American natural resource sector investors, including Rick Rule and Jeff Phillips. The placement raises up to $4 million Canadian dollars, or around $4.6 million Australian dollars, with a lock up period on the stock for a full 12-months, and received strong support from existing and new investors. With this raising Kincora is executing a hybrid project generation strategy and to learn more how the company plans to deploy funds for growth Kincora Copper President and CEO, Sam Spring, joins Lel Smits from The Stock Network.
1. Strategic North American investors, Rick Rule and Jeff Phillips
Kincora has just secured cornerstone investments and announced a private placement. What is the significance of Rick Rule and Jeff Phillips’ backing and what do you think they like about the company and its growth strategy?
2. Non-brokered placement with a year lock up, accelerator on warrants and 1:10 Consolidation
The raising structure is very unique coupled with a significant roll back in share structure. Can you provide insight for why Kincora and the lead investors sought out this unique deal structure?
3. Proceeds will be used to support ongoing project generation strategy and drilling
Kincora Copper has stated proceeds will be used to support ongoing project generation strategy, drilling at your wholly owned high-grade gold-base metals Condobolin project and working capital. Can you talk us through your strategy over the coming six months and what catalysts are coming up?
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