KNB receives firm commitments for $4 million Share Placement

• Placement of 200 million shares at $0.02 per share to raise $4 million
• Funds to accelerate drilling at Enmore and Lachlan Projects in NSW
• Directors participating in Placement for up to $225,000

Koonenberry Gold Ltd (ASX: KNB) has secured firm commitments for a share placement to raise $4.0 million before costs. The funds will be used to accelerate exploration at the Enmore and Lachlan Projects in New South Wales. The company plans to issue 200 million new shares at $0.02 per share, a 3% discount to the five-day VWAP. The placement will also see the company's directors participate for up to $225,000, pending shareholder approval. The capital will support follow-up drilling at Enmore and other targets in the Lachlan Fold Belt, as well as soil sampling and geochemical studies at the Gundagai Project.

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Koonenberry Gold Ltd plans to maintain exploration activities across key project areas and drive value through targeted programs.