Kula Gold Limited (ASX: KGD) is pleased to advise that it has appointed Foster Stockbroking Pty Ltd and Cormark Securities Inc. as strategic advisors in Australia and North America respectively, to assist with negotiations around the future funding and development of Kula’s flagship Woodlark Island Gold Project in Papua New Guinea. This follows a number of enquiries from these sources.
Foster Stockbroking is a highly regarded growth focused investment bank based in Sydney, Australia who recently acted as Sole Lead Manager to the A$3.56 million institutional equity placement completed by Kula Gold. Their client base spans across Australia, Asia, US and the UK and comprises both institutional and strategic investors and in the last 12 months alone it has led a total of over $200 million in equity financings for ASX listed companies.
Cormark Securities is a leading independent investment dealer with offices in Toronto and Calgary, with extensive experience providing advice to clients in North America. Since 2008, Cormark have participated in ~US$16 billion of mining financings and advised on ~US$5 billion of mining M&A activity. Most recently Cormark has advised on the US$351 million sale of Brigus Gold and the US$400 million sale of Sulliden Gold in 2014.
The appointment of Foster Stockbroking and Cormark Securities will assist in all ongoing negotiations and strategies to unlock value for Kula’s shareholders.
Kula Gold CEO Mr Stuart Pether commented, “We are very pleased to have appointed two experienced and well regarded strategic advisors to assist us with identifying the best form of investment for the Company’s flagship Woodlark Island Gold Project.
“The recent completion of the $3.56 million institutional equity placement highlights the strong level of support the Company has secured for the continued development of Woodlark Island Gold Project. We look forward to updating our shareholders on any corporate developments in due course”.
For further information, please contact:
Chief Executive Officer
Tel +61 2 9262 5651
Suite 2, Level 15, 1 York Street
Sydney, NSW 2000, Australia