RE:RE:RE:Annual Meetingbk, it is ironic that the total amount raised if fully subscribed is approx $1.7 million dollars as that number appeared in the last Rights Offering and Decommissioning liability amounts.
Pure coincidence I am sure, but interesting none the less.
The rights themselves will become a market trading tool for those holding them , just like the last one.
"The Rights will trade on the TSX under the trading symbol “KRN.RT” until 12:00 noon (Eastern time) on July 29, 2022."
Some have said raising money from outside sources will be difficult and described this financing as necessary to keep the lights on for another couple years. It is interesting current shareholders are the key to making that happen.
Also, the use of the proceeds is clearly described on page 4 -5 in the Rights Offering Circular on SEDAR.
If fully subscribed, the largest percentage of the $1.7 million proceeds raised will go to corporate G&A - $915K
"Based on current plans, development programs and budgeted expenditures, management of the Company anticipates that the Company will have sufficient funds to maintain operations for at least 18 months, assuming 100% of the Offering."