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Kalamazoo Resources Limited (ASX:KZR)

ALERT: Price-sensitive ASX Announcement for KZR
Current share price for KZR : $0.155 -0.04 (-20.51%)+
Announcement
Release
24 Dec 2025 9:33AM
Price at Release
$0.195
Full Release
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Summary
Kalamazoo Resources Limited (ASX: KZR) announced it has secured firm commitments for an $8 million placement at $0.17 per share from sophisticated investors, alongside launching a Share Purchase Plan (SPP) to raise up to an additional $2 million at the same share price. This initiative is designed to raise a total of $10 million, which will be allocated to resource delineation, exploration drilling, the Mt Olympus Pre-Feasibility Study, and general working capital. The placement shares are scheduled to settle on January 6, 2026, and the allotment will occur the following day. The company has emphasized that directors intend to participate in the SPP and retained Petra Capital as the sole lead manager for the placement. The SPP is open to eligible shareholders as of December 23, 2025, allowing them to apply for up to $30,000 of new shares without incurring brokerage fees. If demand exceeds the $2 million target, the company reserves the right to increase the amount raised or scale back applications.
Key Points
  • Kalamazoo launches $8 million placement and $2 million SPP.
  • Placement price set at $0.17 per share with a total of 47,058,824 shares issued.
  • Funds to be used for drilling, Mt Olympus PFS, exploration, and working capital.
  • Placement shares expected to settle on January 6, 2026.
  • SPP offers shares to eligible shareholders up to $30,000 without brokerage.
  • Petra Capital acts as the sole lead manager and bookrunner.
  • SPP terms and conditions to be available on January 9, 2026.
  • Company may increase SPP raising or undertake a scale back if demand is high.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.