Kalimantan Gold Corporation (TSX & AIM:KLG) said it planned to raise between C$0.4 million and C$1 million from a non-brokered private placement by issuing up to 10 million shares at a price of C$0.10 per
share.
The cash raised will be used to fund its ongoing gold and coal exploration programs in Indonesia, as well as general working capital purposes, the company said.
Kalimantan Gold is a junior exploration company focused on gold, copper and coal prospects in Indonesia.