Kairiki Raises $7MM to Fund Inboard Development Program

Kairiki Energy Ltd.

Kairiki Energy has reached agreement to place a minimum of 50 million ordinary fully paid shares at an issue price of 14 cents per share to raise gross proceeds of $7,000,000.

The funds raised from this issue will be used for funding our SC54 project and for working capital purposes. The placement has been arranged by Southern Cross Equities Limited to professional and sophisticated investors.