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- Kula Gold (KGD) begins the week in a trading halt pending the launch of an upcoming capital raise
- The company will remain in the trading halt until Wednesday, August 3, or when an announcement regarding the raise is released to the market, whichever occurs first
- In its recently-released quarterly report, KGD revealed it had spent $542,000 for the three months ending June 30, with the majority going towards exploration and evaluation
- As of June 30, Kula Gold had $513,000 in total available funding, representing 0.95 quarters of use if spending levels remain the same
- Shares in Kula Gold last traded at 2.8 cents on July 27
Kula Gold (KGD) has begun the week in a trading halt pending the launch of an upcoming capital raise.
The company will remain in the trading halt until Wednesday, August 3, or when an announcement regarding the raise is released to the market, whichever occurs first.
Kula Gold is yet to disclose how much it intends to raise or for what it will use the funds once received.
In its recently-released quarterly, Kula Gold revealed it had spent $542,000 for the three months ending June 30, with the majority going towards exploration and evaluation.
The company also invested $59,000 in its property, plant and equipment.
As of June 30, Kula Gold had $513,000 in total available funding, representing 0.95 quarters of use if spending levels remain the same.
Kula Gold last tapped investors for cash in July 2021 when it undertook a $1.8 million share placement.
The funds were raised through the issue of 36 million shares to sophisticated and professional investors at five cents each.
Shares in Kula Gold last traded at 2.8 cents on July 27. The company has a $6.02 million market cap.
