Kincora Copper Limited has closed the second tranche of the previously announced private placement financing for gross proceeds of USD 52,500 through the issuance of 500,000 units at a price of USD 0.105 per unit.
As previously announced on November 14th 2012, Kincora closed the first tranche of the private placement financing for gross proceeds of USD 4,631,775 million. Total gross proceeds raised from the first and second tranches of the private placement total USD 4,684,275 million.
Funds will be directed towards the continuation of drilling and exploration activities at the company's flagship Bronze Fox project located in the Oyu Tolgoi South Gobi porphyry copper belt in southeast Mongolia and for working capital.
Source:
http://www.steelguru.com/metals_news/Kincora_Copper_closes_second_tranche_of_private_placement/294115.html
