Kainantu Resources Ltd (TSX-V:KRL) told investors it has closed the third tranche of its previously announced private placement financing of C$1.8 million.
The company issued senior convertible debenture units totalling C$310,000, taking the total amount raised to C$1.11 million. A final tranche of the offering of up to an additional C$690,000 is expected to close on or before September 8, 2023.
Kainantu said the terms of the offering have been amended and restated the terms previously outlined, which mistook the detachable warrants for underlying warrants of the convertible debentures.